LAPTOP meme coin makes one millionaire, one big loser after 99% crash

LAPTOP, a meme coin tied to Hunter Biden, hit its highest price two minutes after launching on Wednesday and has since fallen 99% from that level. Within that short window, one trader pocketed over $1 million, while another saw a $200,000 position shrink to under $2,000.

According to blockchain analytics firm Arkham, the token's peak was $199.51. Several hours after launch, LAPTOP was trading at $2.27, giving it a market capitalization near $794.5 million, and the decline has continued. The coin operates on Base, a blockchain developed by Coinbase.

Token's $144B Valuation Backed by Only $48K in Liquidity

Arkham reported that the liquidity pool supporting LAPTOP trades contained roughly $48,000 shortly after its debut, yet the total token supply was being priced at $144 billion. A liquidity pool is the reserve of assets that traders buy and sell against; a shallow pool allows small trades to cause large price swings.

DID LAPTOP TOP IN 2 MINUTES?

LAPTOP just launched at 8:02pm. It reached a peak price 2 minutes later at 8:04.

The FDV of the coin is currently $144B and the liquidity pool contains $48K.

This disparity set the stage for the subsequent price action. With the token's price effectively tied to a tiny liquidity base, a handful of substantial purchases could push it into the hundreds of dollars, while a few sales could wipe out those gains.

Concentration is also high among holders. According to Arkham's list of token holders, the two biggest wallets, both associated with the project, each control 30% of the total supply.

$200,000 Buyer Acquired Tokens Above Peak Price

Lookonchain, a blockchain data tracker, identified the losing trader: the individual withdrew $250,000 from Binance prior to the launch and then used $200,000 to purchase 919 LAPTOP tokens at an average price of $218 each.

Don't FOMO!

This guy turned $200K into just $3K by FOMOing into @HunterBiden's $LAPTOP.

He withdrew $250K from #Binance in advance to buy $LAPTOP as soon as it launched.

He ended up spending $200K to buy 919 $LAPTOP at a high price of $218, which is now worth only $3K.

That average price is roughly 9% higher than the $199.51 record set by Arkham. In such a thin liquidity pool, a large order drives the price higher while it is being executed. The trader effectively paid the price he created. The value of his holding has since dropped below $2,000.

In contrast, a wallet identified by Lookonchain as 0xa5019 invested 100 ether (ETH), valued at $249,800, to buy 9,124 LAPTOP at around $27 each. It later sold 8,480 of those tokens for 472 ETH, approximately $1.18 million.

Hunter Biden had previously lowered expectations for the token.

“You should not expect me or anyone else to make this token more valuable for you. $LAPTOP isn’t just about owning something, it’s about saying something,” he wrote.

Token's Post-Launch Price Matched Pre-Launch Prediction

On Monday, BeInCrypto estimated that LAPTOP would require a price of about $2.26 per token to achieve the same fully diluted valuation as Official Trump (TRUMP), which is the threshold for Biden's planned token burn. Within hours of the launch, the token was trading within one cent of that figure.

Biden's airdrop initiative allocates 20% of the total supply to community wallets, which includes individuals who incurred losses on TRUMP. That token is currently trading around $2.20, roughly 97% below its peak in January 2025. The key question is whether these recipients will sell into the same thin liquidity pool.