LAPTOP Memecoin Crashes 99% in Turbulent Debut
Hunter Biden's LAPTOP memecoin debuted in a disastrous fashion on Wednesday, plummeting over 99% from its initial high after a turbulent first hour of trading. The token rose above $300 following an airdrop and briefly carried a market capitalization of roughly $110 billion.
The project attributed the sharp price reversal to automated sniper activity triggered by strong buying interest, which drew in bots due to insufficient liquidity in the launch pool. To address this issue, the team plans to release 4 million tokens for Aerodrome liquidity incentives at midnight UTC on Sept. 10, increasing the amount available for liquidity support.
The project's supply is being reduced under a mechanism linked to real-world predictions. Two of these events have produced 'Yes' outcomes, requiring 10 million tokens to be destroyed and cutting circulating supply by an expected 1% during the first week after launch.