Hunter Biden's freshly launched memecoin, $LAPTOP, turned into a cautionary tale within an hour of hitting the market, plunging nearly 98% from its opening high and triggering a fresh round o
Hunter Biden's freshly launched memecoin, $LAPTOP, turned into a cautionary tale within an hour of hitting the market, plunging nearly 98% from its opening high and triggering a fresh round of political battle.
According to on-chain data, two separate purchases of 100,000 USDC, with the wallet receiving about 399.7 and 519.7 LAPTOP tokens. That puts the average purchase price at roughly $218 per token.
The position quickly lost most of its value, falling to around $3,000, according to Lookonchain. DeBank later valued the wallet’s 919 LAPTOP tokens at about $4,675.
Blockchain analytics firm Bubblemaps called the launch a "bloodbath," noting on X that a large majority of traders ended up in the red.
The Hunter Biden project pushed back on accusations of a rug pull, insisting his team's tokens remain locked and that he personally hasn't profited.
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He pointed instead to technical glitches and opportunistic "sniper" bots that jumped ahead of liquidity providers, and accused legacy media of distorting the story.
On-chain trackers tell a different story. A wallet tied to the project reportedly received 100 million LAPTOP tokens, about a tenth of total supply, a week before launch, then offloaded more than 42 million of them once trading opened.
Ahead of the launch, Hunter Biden defended the $LAPTOP memecoin while taking a jab at Donald Trump’s $TRUMP token.
He said he understood public skepticism toward memecoins broadly, noting that Trump has "broken trust in everything he's ever touched."
World Liberty Financial co-founder and Donald Trump’s son Eric Trump reacted with a one-line dig on X, suggesting Biden should stick to painting instead. The jibe references Biden's post-recovery career as an artist.
“Hunter should go back to painting,” he posted on X.
Notably, LAPTOP was pitched partly as an olive branch, with 20% of its supply earmarked for wallets burned by the Trump family's own memecoin.
Earlier, Biden Biden pointed to figures showing nearly one million wallets tied to $TRUMP have collectively lost close to $3.8 billion.
By comparison, he said 20% of $LAPTOP tokens will be airdropped to the community, including people burned by the $TRUMP token.
Another 30%, he said, is linked to a mechanism where tokens are either burned or donated to charity depending on real-world outcomes, with 50 million tokens earmarked for charity regardless.
