$LAPTOP Token Crashes 95% in Three Hours Amid Low Liquidity
Hunter Biden's $LAPTOP token plummeted from nearly $200 to under $2 in just three hours after its debut on the Base network, built by Coinbase.
The token's price remained far below its initial levels throughout trading, with a decline of roughly 95% within the first hour. Trading volume exceeded $3 million during this time.
The most striking aspect of the launch was the implied valuation, which reached close to $200 billion due to limited liquidity. However, this figure is not reflective of actual market value but rather a mathematical reflection of the last price across the entire supply.
The token's founders receive 30% of the supply, while another 20% is designated for two airdrops, including to wallets of investors who lost funds in the $TRUMP meme project. The remaining 50% is linked to predetermined events and outcomes, with tokens potentially being burned or directed towards charity.