The LAPTOP memecoin, associated with Hunter Biden, experienced a dramatic launch on Wednesday, suffering a near-complete collapse that saw its value drop approximately 98% from an initial price point of 5 cents.
Project representatives attributed the dramatic price decline to automated sniper bot activity combined with insufficient market liquidity. Sniper bots operate as sophisticated automated tools designed to identify newly launched tokens and execute purchases within milliseconds, artificially inflating prices before ordinary market participants can enter positions.
Deployed on the Base blockchain network, the token experienced an initial price surge before experiencing an equally rapid reversal.
According to blockchain intelligence platform Nansen, the token registered 46,675 purchase transactions versus 16,038 sell orders during its first 24-hour period. The platform identified 20,085 distinct purchasing wallets and 8,714 separate selling addresses. A significant majority of buyers had maintained their holdings at the point of data collection.
Within Nansen’s monitored wallet addresses, one particular wallet registered combined realized and unrealized losses totaling approximately $199,000. A separate address showed losses near $118,000 after purchasing roughly 28,400 tokens without executing any sales.
The launch wasn’t universally unprofitable. A specific wallet address holding approximately 49,700 tokens displayed unrealized gains of roughly $13,000.
Bubblemaps, an independent blockchain analysis service, reported that 60% of LAPTOP’s largest holding wallets exhibited zero historical activity. The majority of these addresses received initial funding on launch day itself.
Hunter Biden responded to the price collapse through his X account, categorically denying that he or team members had liquidated any token holdings.
“The team’s allocation is locked. Nobody on our side sold, and nobody could have,” Biden wrote. “I, personally, have not made a single dollar.”
The LAPTOP development team released an official community statement justifying their launch methodology. They emphasized the absence of any presale events and confirmed no token allocations were distributed to investors, social media influencers, or key opinion leaders.
“There was no stealth deployment, no hidden supply, and no surprise to benefit insiders,” the team said.
Project founders control 30% of the total 1 billion token supply. This allocation remains locked for a six-month period and subsequently vests on a monthly schedule across two years.
An additional 30% of available supply connects to a prediction-based program centered on political, cultural, and cryptocurrency events. Token quantities are either burned or donated to charitable organizations based on outcome results.
Team allocations also include 2% designated for individuals who experienced losses with the TRUMP memecoin, plus 8% reserved for subscribers of Biden’s “Where’s Hunter” Substack publication.
To address liquidity concerns, the development team announced plans to allocate 4 million tokens as rewards within Aerodrome liquidity pools, commencing at midnight UTC Thursday. Additional plans include burning 10 million tokens during the inaugural week.
According to CoinGecko data at the time of publication, LAPTOP was trading at $0.8562.
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