LAPTOP Memecoin Crashes 98% After Launch
Hunter Biden's LAPTOP memecoin saw an extreme price crash immediately after its launch on Base, plummeting as much as 98% from its opening peak of nearly $191. The collapse was attributed to thin liquidity and sniper bots that exploited the token's launch-day volatility.
The project's team blamed the structure of the launch for the sharp reversal, citing insufficient initial liquidity to absorb the rush of automated traders. Sniper bots are designed to detect newly launched tokens and execute trades within seconds, potentially contributing to rapid price spikes and reversals.
According to Nansen data, the first 24 hours of trading saw 46,675 buy transactions compared to 16,038 sells, with approximately 20,085 unique buyers and 8,714 sellers involved. Some individual wallets suffered particularly large losses, while others realized gains.