A Hunter Biden-linked memecoin called $LAPTOP opens trading on the Base network with a rapid price spike, then falls sharply within hours. Multiple outlets report the token briefly trades near its peak—around $190—soon after launch, before dropping to single-digit prices, with declines of roughly 98% to 99% reported by different trackers.
Quartz and CoinDesk describe the move as happening within minutes of the debut on Base, citing thin liquidity and a rapid change in buying and selling conditions. CoinDesk adds that tokens were distributed to market makers ahead of the public launch, based on on-chain records. The Block reports that some users could claim tokens via airdrops tied to the project, including allocations that were reportedly sold quickly.
Other coverage highlights the scale of early trading swings and investor losses, while also referencing explanations offered by the project. CoinDesk reports the team attributes the collapse to thin liquidity and automated trading (“bots”) that it says distorted the launch. Yahoo Finance frames the outcome as particularly harmful for investors and discusses comparisons with other prominent political-themed tokens, but the core reported market pattern remains the same across outlets: a fast run-up followed by a steep crash as liquidity conditions prove unfavorable.
