Hunter Biden $LAPTOP Token Crashes 95% After $200 Debut

Hunter Biden's $LAPTOP token crashed from a $200 opening to under $2 in just three hours, exposing the risks of low-liquidity meme coin launches.

The token opened near $200 before crashing below $2, and in the volatile trading that followed, the price remained far below its initial levels.

From nearly $200 to under $5 in less than an hour

Trading for $LAPTOP began Wednesday on the Base network, built by Coinbase, where the price initially reached approximately $200. Only three hours later, the token was trading at $1.98, representing a decline of roughly 95%. Trading volume during the first hour exceeded $3 million.

The CoinMarketCap chart illustrates the same pattern: an almost vertical ascent immediately following the launch, followed by a sharp drop and prolonged trading near the bottom.

Limited liquidity skewed valuation to $200 billion

The most striking figure at launch was not just the price, but the implied valuation.

$LAPTOP has a total supply of 1 billion tokens. At a price near $200, simple multiplication placed the fully diluted valuation close to $200 billion. However, this does not mean that investors actually poured hundreds of billions of dollars into the project.

The reason is liquidity.

In the early hours, the official pool on Aerodrome held about $83,000 in USDC, while the Uniswap pool had approximately $380,000. With such small capital, even limited buying and selling can trigger massive price swings. Market data also shows that liquidity on Uniswap only became active after the token had already lost over 90% of its value.

This makes the early valuation of around $200 billion a mathematical reflection of the last price across the entire supply, rather than a reliable measure of value the market could actually realize.

Political meme token launches with 1 billion coins in circulation

Hunter Biden announced $LAPTOP as a reference to the laptop that became a political scandal during the 2020 presidential campaign.

The founders, including Biden, receive 30% of the supply. These tokens are locked for six months and are set to be fully released within two years.

Another 20% is designated for two airdrops, including to wallets of investors who lost funds in the $TRUMP meme project. About 30% of the supply is linked to predetermined political and market events. Under certain outcomes, tokens will be burned, while in others, they will be directed toward charity.

$LAPTOP follows the familiar pattern of political meme tokens

The sharp movement places $LAPTOP in the same high-risk category as other tokens built primarily around political or public figures.

$TRUMP, for example, reached a market capitalization near $15 billion after its debut in 2025, before its price lost most of its initial gains.

With $LAPTOP, the gap between the quoted valuation and real liquidity was visible almost immediately. Small pools allowed early trades to create the impression of an asset worth tens or even hundreds of billions of dollars, but this valuation could not withstand stronger selling pressure.

The debut demonstrates why market capitalization can be particularly misleading for new meme cryptocurrencies. With limited circulating supply and low liquidity, a high initial price can produce a massive nominal valuation without comparable capital backing it. For $LAPTOP, this imbalance was corrected not over days, but within the very first hour of trading.