Hunter Biden’s LAPTOP Memecoin Plummets 98% Within First Hour of Trading

Key Takeaways

• The LAPTOP token debuted on Base network, reaching $190.81 within its opening minutes before plunging to $3.70 in less than sixty minutes
• Despite achieving a peak fully diluted valuation of $144 billion, the token rapidly declined with merely $48,000 in liquidity supporting it
• Prominent market makers GSR and Wintermute obtained token allocations several days prior to public availability
• Biden took to X to justify the token launch, describing LAPTOP as representing “resilience, redemption and recovery”
• The digital asset offers zero utility; founding team controls 30% of total supply with a six-month lock period

The LAPTOP memecoin associated with Hunter Biden made its debut on Base, an Ethereum layer-2 blockchain, this Wednesday. The token’s initial price of $190.81 rapidly deteriorated, falling to a low of $3.70 within sixty minutes of launch.

Hunter Biden’s Laptop Price

Data from CoinGecko indicated that by 3:45 PM UTC, LAPTOP was changing hands at approximately $2.10, marking a devastating 98% decline from its launch price. The initial trading hour witnessed over $13 million in volume distributed across more than 300 trading pairs.

With 350 million tokens in circulation, the asset maintained a market capitalization of roughly $1.6 billion, while its fully diluted valuation approached $4.8 billion. The liquidity pool supporting these valuations contained a mere $2.5 million.

According to blockchain analytics provider Arkham, the token’s fully diluted valuation momentarily reached $144 billion at its zenith — supported by a liquidity pool containing just $48,000.

Pre-Launch Token Allocation Revealed

Blockchain records indicate that a multisignature wallet identified by Arkham as belonging to the Laptop Token project obtained 100 million LAPTOP tokens — representing 10% of the total supply — one week prior to public availability.

Market making firm GSR obtained 15.5 million tokens four days ahead of the trading launch. Wintermute’s hot wallet contained approximately 1.8 million tokens. Token balances were also detected at deposit addresses belonging to exchanges including Bitvavo, Kraken, KuCoin and Bitpanda.

Distributing tokens to market makers before public launch represents industry standard practice. According to LAPTOP’s tokenomics structure, 20% of the supply was designated for liquidity provision and operational purposes.

Addressing criticism on X, Hunter Biden stated: “The symbol they used to try to end me is now a symbol of resilience, redemption and recovery.” He recognized widespread skepticism surrounding memecoins, characterized Trump’s token as a “grift,” and cautioned purchasers against expecting him or others to enhance the token’s value.

Official project documentation characterizes LAPTOP as a digital collectible lacking utility, ownership privileges, governance rights, or profit-sharing mechanisms. The founding team, including Biden, retains 30% of the 1 billion token supply, secured under a six-month lock followed by monthly vesting across 24 months.

Airdrop Distribution Strategy

Project organizers allocated 2% of the token supply to cryptocurrency wallets that experienced losses on the TRUMP memecoin, along with 8% designated for those subscribed to Biden’s “Where’s Hunter” Substack publication.

The TRUMP token debuted in January 2025, reaching a peak near $73 before declining to its current price of approximately $2.25 — representing a 97% drop from its all-time high. Close to one million wallets collectively sustained $3.8 billion in losses from that token.

Jesse Pollak, founder of Base, acknowledged that the LAPTOP development team reached out to his organization, though he emphasized that Base made a “conscious decision” to refrain from assisting with the token’s structure or marketing efforts.

Digital currency investigator Stephen Findeisen, operating under the Coffeezilla moniker, labeled LAPTOP a “shitcoin” and strongly advised his audience against purchasing it prior to its launch.

The token’s burning mechanism incorporates 30 conditions tied to specific outcomes, including whether LAPTOP’s market capitalization surpasses that of TRUMP — a milestone already achieved at launch, with LAPTOP at $1.6 billion compared to TRUMP’s $615 million.

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