Crypto
LAPTOP Memecoin Implodes by 98% Amid Sniper Bots and Thin Liquidity
Hunter Biden's LAPTOP memecoin collapsed by as much as 98% from its opening levels after launching at $0.05, with the team blaming sniper bots and thin liquidity for the reversal.
The project's launch exposed how quickly automated traders can distort a new token when liquidity is too shallow to absorb demand.
Onchain data from Nansen showed 46,675 buy transactions against 16,038 sells over 24 hours, involving 20,085 buyers and 8,714 sellers.
The team plans to deploy another 4 million LAPTOP tokens to Aerodrome pools beginning September 10 to incentivize liquidity.