LAPTOP Memecoin Crashes 98%, Hunter Biden's Project Struggles with Liquidity
Hunter Biden's memecoin, LAPTOP, suffered a brutal launch on Wednesday, September 9. The price initially spiked above $300 before liquidity vanished, causing it to plummet by 98% within minutes.
The memecoin dropped from its initial high of over $300 to as low as $4.36 during the opening collapse. Trading continued after the sell-off, with the price eventually dropping below $1 and trading near $0.75.
A Bubblemaps analysis revealed that 11,311 out of 15,206 wallets lost less than $1,000, while only 363 traders earned above $1,000. This includes ten wallets that cleared $100,000.
The imbalance indicates that earlier exiters captured most available liquidity, while later buyers absorbed losses. The LAPTOP team has since announced plans to deploy 4 million tokens across Aerodrome pools, which will reduce the total supply by 1% within one week.