Hunter Biden’s new LAPTOP meme coin suffered a dramatic collapse on its launch day, losing nearly 98% of its value within roughly an hour of reaching the market.
The token briefly traded near $200 before falling to about $4, according to cryptocurrency market data. That move erased most of the coin’s early valuation and highlighted the extreme volatility surrounding politically themed meme coins.
LAPTOP was launched on the Base blockchain with a planned supply of 1 billion tokens. The project had attracted significant attention before trading began because of its connection to the long-running controversy surrounding Hunter Biden’s laptop.
Launch Sparks Extreme Volatility
Market data showed LAPTOP reaching an all-time high of about $199.51 on Sept. 9 before plunging to roughly $4.15. The token remained close to its lows after the sell-off, with its market capitalization still fluctuating sharply as trading continued.
The reported billion-dollar valuation reflected the token’s early market price rather than a conventional measure of capital invested. Meme coin valuations can change rapidly because a relatively small amount of trading can produce large swings in quoted prices, particularly when liquidity is limited.
The collapse also illustrates the risks of buying newly launched tokens during periods of intense speculation.
Political Meme Coins Face Scrutiny
Hunter Biden had promoted LAPTOP as a way to reclaim the political controversy surrounding his laptop and turn it into a symbol of resilience and recovery.
The project reserved part of its supply for airdrops, including wallets that suffered losses on Donald Trump’s TRUMP meme coin. Founders, including Biden, were also allocated tokens subject to lockups and vesting conditions.
However, the launch faced criticism from cryptocurrency traders before trading began. The Base blockchain team also emphasized that the network is permissionless and that it did not design or promote the token.
LAPTOP’s rapid rise and collapse add another cautionary example to the growing market for celebrity and political meme coins. Investors face substantial risks when prices depend primarily on attention, online speculation and limited initial liquidity.
