A token marketed as “LAPTOP,” associated with Hunter Biden, drops sharply shortly after it starts trading on the Base network. Multiple outlets report that the token briefly trades at a high price immediately after launch, then falls roughly 98–99% within about an hour, with rapid swings from around $190 per token to only a few dollars.
Accounts from different sources describe the early market activity and distribution. One report says Substack subscribers could claim an airdrop of 4,276 LAPTOP tokens and that some holders sell quickly after receiving allocations. Another cites on-chain timing, saying tokens were distributed to market makers in advance—reporting a week-long distribution period—before trading begins publicly. A separate outlet focuses on the magnitude of the early gains for some claimants, noting that certain airdrop allocations were briefly worth over $1 million each before the subsequent crash.
While the reported cause is discussed in terms of liquidity and immediate selling pressure, outlets largely align on the same sequence: high initial pricing, rapid selling, and a steep loss of value soon after debut.
