Hunter Biden has denied profiting from the LAPTOP memecoin following a significant price decline on its launch day. The token, which takes its name from a MacBook laptop Biden reportedly left at a repair shop in 2019, lost more than 95% of its value within the first hour of trading on Wednesday, falling to $0.8562 according to CoinGecko data.
Several users on social media accused the LAPTOP project of a rug pull after the sharp price drop. Biden responded to the allegations in a post on X, stating: "The team's allocation is locked. Nobody on our side sold, and nobody could have. I, personally, have not made a single dollar."
Biden attributed the price action to insufficient liquidity and snipers—automated trading bots that rapidly purchase tokens when trading begins. The LAPTOP team defended the launch in a community update, claiming it had conducted no token presale and made no allocations to investors or influencers. The team said the contract address, token allocations, a security audit, and white paper were published before trading commenced.
Token Allocation and Supply Details
According to the project's disclosures, founders hold 300 million tokens, representing 30% of the 1 billion token total supply. These tokens are locked for six months and then vest monthly over the following 24 months. Another 30% is allocated to predictions tied to political, cultural, and crypto events, with tokens burned when specified outcomes occur.
The disclosures reserve 2% of total supply for wallets that lost money on the TRUMP memecoin and 8% for eligible subscribers to Biden's "Where's Hunter" Substack newsletter. An additional 10% is allocated to future airdrops at the foundation's discretion.
Liquidity Measures and Token Burns
The LAPTOP team announced plans to deploy 4 million tokens as liquidity incentives for Aerodrome pools and burn 10 million tokens within the first week of launch through its predictions program, equivalent to 1% of the original total supply.
Transaction Data
Nansen data shared on Thursday showed significant trading activity across the 24-hour period analyzed. The platform recorded 46,675 buy transactions and 16,038 sell transactions, involving 20,085 unique buyers and 8,714 unique sellers. Nansen tracked wallet losses as high as $117,800 in unrealized losses, while other wallets recorded smaller losses and minimal gains. Blockchain analytics platform Bubblemaps noted that 60% of LAPTOP's top-holder wallets had no prior activity, with most funded on launch day.
