LAPTOP Token Plunges After Launch; Hunter Biden Denies Team Sales
Hunter Biden's LAPTOP memecoin lost as much as 98% on its first trading day, with the project pointing to thin liquidity and automated bots. Biden denied that he or his team sold tokens and said he did not profit from the launch. The team outlined plans to add liquidity incentives and burn tokens while rejecting claims of insider allocations.
The token debuted on Base at $0.05 and fell more than 95% within its first hour, with the project later blaming shallow market depth and fast automated traders. It said it would add 4 million tokens—0.4% of supply—as Aerodrome liquidity incentives and burn 10 million tokens in week one via its predictions program.
Before trading, the team published the contract, allocation plan, Hacken audit, and white paper, and said there was no advance token sale or investor/influencer distribution. Founders hold 300 million tokens, locked for half a year, then monthly vesting across two years; other allocations include 30% for predictions, 2% for TRUMP memecoin losers, and 8% for Substack subscribers.
The collapse may affect retail traders who bought near launch, potentially eroding trust in celebrity- or politically themed tokens. It could also draw more attention from regulators and platforms to launch mechanics, liquidity disclosures, and bot activity. Because losses appear concentrated among some wallets, broader market impact may be limited, though the episode could reinforce calls for clearer risk warnings around speculative memecoins.