Hunter Biden's LAPTOP Meme Coin Crashes 99% on Debut

In brief

• LAPTOP launched on Base at 8am ET Wednesday and hit a $190.81 peak just two minutes later, per Arkham, before crashing to as low as $3.70 within the hour.
• The token's fully diluted valuation briefly topped $144 billion against a liquidity pool of just $48,000, according to Arkham, before falling to roughly $4.8 billion.
• This is a common patter in celebrity and political meme coins, which tend to quickly crash.

Hunter Biden's controversial LAPTOP meme coin hit the crypto market on Wednesday morning and immediately did what most "celebrity meme coins” have done before it: it pumped, then it dumped.

The token, named for the Delaware laptop saga that dogged Biden through the 2020 election and years after, launched on Base—Coinbase's Ethereum layer-2 network—at 8am ET Wednesday.

Blockchain intelligence firm Arkham reported that LAPTOP topped out at $190.81 just two minutes later, a peak that implied a fully diluted valuation near $144 billion against a liquidity pool holding only $48,000.

That gap between the valuation and actual tradable liquidity set up the collapse. Within 30 minutes, LAPTOP had shed about 90% of its value, and by the one-hour mark it traded near $4.77. The chart below—LAPTOP against USD on GeckoTerminal—shows the pattern: a single green candle straight up, followed by an immediate red reversal and a long, flattening tail.