Hunter Biden’s $LAPTOP Crashes More Than 95% as Traders Report Heavy Losses

Hunter Biden’s $LAPTOP Crashes More Than 95% as Traders Report Heavy Losses

Hunter Biden's $LAPTOP memecoin has suffered a severe collapse shortly after launching on the Base blockchain, with on-chain tracking showing the token losing more than 95% from its earlier levels as traders rushed to sell.

The token launched on September 9 with a total supply of 1 billion tokens. Within hours, its valuation swung wildly, briefly reaching levels that put its fully diluted valuation in the tens of billions of dollars before the market reversed sharply.

According to on-chain monitoring cited by Lookonchain, LAPTOP's price dropped approximately 95% within 15 minutes during one of the major sell-offs. The sharp decline was linked to heavy selling from wallets that had received LAPTOP through the project's airdrop.

The volatility has continued even after the initial crash. Lookonchain reported that the token's fully diluted valuation fell to around $4 billion before rising 200% within five minutes and then losing 40% in the following minute. The rapid movements highlight just how unstable trading has been since launch.

Some traders have already suffered substantial losses.

In one case tracked by Lookonchain, a trader withdrew $250,000 from Binance ahead of the launch and spent approximately $200,000 buying 919 LAPTOP tokens at around $218 each. After the subsequent collapse, the position was reportedly worth only about $3,000. That represents a paper loss of roughly $197,000.

The selling has also raised questions about the project's token distribution.

LAPTOP's structure includes a 20% allocation for community airdrops, including wallets belonging to people who lost money on Donald Trump's TRUMP token. Hunter Biden's subscribers and other eligible recipients were also included in the distribution.

On-chain analyst and crypto trader Rune questioned the project's claims around its distribution after identifying wallets that claimed 4,276 LAPTOP tokens and then sold them shortly afterwards. Lookonchain also reported that millions of tokens had been claimed and sold during the early trading period.

The developments have intensified criticism that began before the token even launched.

Crypto traders had already expressed strong opposition to the project over its tokenomics and political positioning. Kraken removed a promotional post about LAPTOP after traders criticised the exchange's decision to promote the token. Base representatives also clarified that although LAPTOP launched on the Base network, Base did not participate in designing or promoting the project.

The criticism has become even stronger following the collapse, with some traders describing the launch as a pump-and-dump and questioning whether ordinary buyers could realistically compete with wallets receiving tokens through the distribution process. Those claims remain opinions from individual traders and are not, by themselves, proof of wrongdoing.

The situation is particularly notable because the project was promoted partly around helping people who had lost money on other politically connected memecoins. Hunter Biden had said that a portion of the LAPTOP supply would be distributed to wallets that lost money on TRUMP.

Instead, some of the earliest trading activity has left buyers facing significant losses of their own.

The token's extreme movements also demonstrate the risks of entering newly launched memecoins at highly inflated valuations. With limited trading history and rapidly changing liquidity, prices can move dramatically within minutes.

For now, the on-chain evidence points to an extremely volatile launch marked by a sharp collapse, aggressive selling and growing criticism from traders. Whether LAPTOP can establish a more stable market after the initial frenzy remains uncertain.

What is clear is that many traders who bought into the early surge have already been left with substantial losses.

Would you still trust a memecoin after watching its value collapse within minutes, or is this exactly the kind of risk investors should expect from celebrity-backed crypto launches?