LAPTOP Meme Coin Crashes Nearly 99% in First Hour

Hunter Biden's LAPTOP meme coin crashed nearly 99% within its first hour on Base, Coinbase's Ethereum layer-2 network.

The token was backed by just $48,000 in liquidity and drew over 11,500 losing wallets, with approximately 80% of buyers underwater shortly after launch.

LAPTOP launched around 8 a.m. ET on Wednesday, peaking at near $190.81 within two minutes of opening trading, according to Arkham blockchain intelligence data.

At its peak, the token's fully diluted valuation (FDV) approached $144 billion, but the liquidity pool available to support that valuation held only approximately $48,000.

By the one-hour mark, LAPTOP had shed roughly 90% of its value, trading near $4.77, down approximately 99% from the high.