Hunter Biden’s LAPTOP Token Crashes 98% as Bots Hit Launch

Hunter Biden’s LAPTOP memecoin plunged as much as 98% from its opening levels, with the project’s team blaming sniper bots and insufficient liquidity for the dramatic collapse that left some early traders facing six-figure losses.

LAPTOP debuted at $0.05 amid intense demand, but the team said initial liquidity was too limited to handle the surge of automated trading. Sniper bots, which are designed to identify and purchase newly launched cryptocurrencies within seconds, quickly entered the market, contributing to a sharp price spike followed by an equally rapid reversal.

To strengthen liquidity, the LAPTOP team plans to deploy an additional 4 million tokens, representing 0.4% of the total supply, as incentives for Aerodrome liquidity pools beginning Sept. 10.

Blockchain analytics firm Nansen recorded 46,675 LAPTOP buy transactions and 16,038 sells during a 24-hour period. The activity involved 20,085 unique buyers and 8,714 unique sellers, indicating that many buyers had yet to exit their positions.

Losses among some wallets were substantial. One address examined by Nansen had suffered about $199,000 in total losses, including $171,000 in realized losses and approximately $27,900 in unrealized losses. Another wallet holding roughly 28,400 LAPTOP was down about $118,000. However, one address holding around 49,700 tokens showed an unrealized profit of approximately $13,000.

Despite the crash, Nansen estimated LAPTOP’s market capitalization at around $720 million and its fully diluted valuation at $2.1 billion. Such valuations can be misleading for newly launched memecoins because thin liquidity allows relatively small trades to cause significant price swings.

The LAPTOP team denied claims that insiders received preferential treatment, saying there was no presale or special allocation for investors, influencers or key opinion leaders. It said token details, allocations and a security audit were disclosed before trading.

The project also reiterated that the founders’ 30% allocation is locked for six months and will vest over two years. Another 30% is connected to prediction-based events that could result in tokens being burned or donated to charity.

LAPTOP takes its name from the laptop Hunter Biden left at a Delaware repair shop in 2019, transforming a long-running political controversy into a speculative crypto asset.