Hunter Biden's LAPTOP memecoin launched on the Base blockchain Wednesday and experienced a dramatic price collapse within its first day of trading.
The token peaked at $190.81 just 120 seconds after launch. Within 30 minutes, it had declined 90% to around $4.77. By afternoon, it had fallen to approximately $1.80—roughly 99% below its peak price.
Winners and Losers
The volatile trading created extreme outcomes for different participants. One wallet purchased 9,124 tokens at roughly $27 each after withdrawing $249,800 from Binance before launch. That same wallet sold most of its position minutes later near $129 per token, generating approximately $1.18 million—a $930,000 gain on a five-minute hold.
Hunter Biden Substack subscribers who received airdrops of the token saw positions worth over $400,000 at peak prices, and some successfully converted those holdings to cash.
Other participants faced severe losses. One wallet spent approximately $200,000 purchasing 919 tokens near $218 per token. Within an hour, that position was worth under $3,000, representing a 98.5% loss.
Broader Market Impact
The LAPTOP launch had minimal effect on wider cryptocurrency markets. Major cryptocurrencies and alternative tokens remained largely unchanged during the hours following the token's debut, though broader market declines occurred later in the trading day unrelated to the memecoin launch.
