Hunter Biden’s LAPTOP memecoin collapsed within hours of launching on Base, falling from a $199.51 all-time high on September 9 to a $0.7234 low on September 10. The drop left the token 99.6% below its peak after an opening session dominated by extreme price swings and thin liquidity.
Biden had introduced LAPTOP through his own launch post as a memecoin tied to community distributions and his attempt to reclaim the narrative surrounding his laptop. The launch followed immediate Base backlash over the project, including efforts by Base and other parties referenced around the rollout to distance themselves from any formal involvement.
Early Traders See Extreme Gains and Losses
The opening volatility produced radically different outcomes depending on when traders entered. One address spent about $200,000 to acquire 919 LAPTOP near $218 per token after withdrawing $250,000 from Binance. The position fell to roughly $3,000 shortly afterward, wiping out more than $190,000 on paper.
Another address entered earlier with 100 ETH, worth about $249,800, and bought 9,124 LAPTOP. The wallet then sold 8,480 tokens for 472 ETH, worth roughly $1.18 million, while retaining 644 LAPTOP, putting the tracked trade more than $1 million in profit at the time of the analysis.
The disparity reflects the token’s unusually unstable opening market rather than evidence by itself of a founder rug pull. LAPTOP’s own disclosures explicitly warn that its market may lack sufficient depth and that low liquidity can produce severe slippage and losses.
Founder Tokens Remain Under Six-Month Lock
LAPTOP launched with a fixed supply of one billion tokens and 350 million, or 35%, available at token generation. The project’s official tokenomics allocate 30% to founders, 30% to prediction-linked distributions, 20% across two community airdrops, 10% to liquidity, 5% to the foundation treasury and 5% directly to charity.
The more detailed project disclosures state that the 300 million founder tokens, including Biden’s allocation, received zero release at launch. They are locked for six months before vesting monthly over the following 24 months. The documents also place those founder tokens with Coinbase Custody.
That structure is important when assessing rug-pull allegations because the documented founder allocation was not available for sale during the launch collapse. The 35% initially unlocked instead consisted of the two airdrop allocations, liquidity inventory and foundation treasury tokens.
Part of the community distribution was designed for wallets with negative PnL on TRUMP, extending Biden’s attempt to position LAPTOP against the economics of Donald Trump’s memecoin. Nearly 989,000 TRUMP buyers had previously accumulated an estimated $3.81 billion in realized and unrealized losses.
CoinGecko recorded LAPTOP’s first-day range between $0.7234 and $199.51, with 350 million tokens in circulating supply and the token remaining more than 99% below its launch peak on September 10.
