LAPTOP Memecoin Implodes by Over 99%, Leaving Traders Reeling

Hunter Biden's memecoin, LAPTOP, has crashed by over 99% since its launch just one week ago. The coin, which was launched on Base, a Layer 2 blockchain developed by Coinbase Global Inc., initially surged to $401.12 within minutes of going live. This price spike pushed the market cap to an astonishing $50 billion.

However, this frenzy was short-lived. An hour after hitting its all-time high, LAPTOP crashed by 98%, with 80% of traders losing their money due to insider distribution rather than ordinary selling. The coin remains under heavy selling pressure and is down over 99% in its first week.

Comparatively, the Official Trump memecoin, launched in January 2025, also experienced a rapid price spike followed by a sharp decline. It started trading at $1.20 and surged to an all-time high of $75.35 within two days, but closed its first week at $28.89, netting a 2,290% return from the launch price.