LAPTOP, a memecoin tied to Hunter Biden’s laptop theme, fell sharply soon after opening for trading on Base. According to CoinDesk, the token traded from $190 to below $4 within minutes, erasing roughly 98% of its value in less than an hour after debuting at a $1.6 billion market capitalization. Onchain records cited in the report also show that tokens had been distributed to market makers for a week before trading began. The move marked a fast and severe reversal immediately after launch, with the price collapse unfolding within minutes of the token’s market debut.
LAPTOP, a memecoin linked to Hunter Biden’s laptop theme, dropped sharply after opening on Base, falling from $190 to below $4 within minutes.
CoinDesk said the token debuted at a $1.6 billion market capitalization and lost about 98% of its value in under an hour.
Onchain records show the tokens had been distributed to market makers for a week before trading started.
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