LAPTOP Memecoin Crashes 86.5% After Hunter Biden Launch
Hunter Biden’s LAPTOP memecoin launched on Base after being promoted as a political cryptocurrency linked to the controversy over his alleged laptop. Before launch, the project planned a 1 billion-token supply, with 20% reserved for airdrops, including allocations for wallets that lost money on the TRUMP token. Founders, including Biden, were allocated 30% under lockups and vesting rules. The project also proposed prediction-based token burns and charitable donations.
The latest development was a severe market reaction. LAPTOP fell 86.5% within its first 30 minutes, dropping from $199.50 to $26.88 by 12:30 pm UTC, with more than $2.5 million in trading volume, according to CoinGecko. The token launched with 350 million coins circulating. Founder tokens are locked for six months and then vest monthly over 24 months.
LAPTOP disclosures state that the memecoin has no utility, ownership, voting, yield or profit-sharing rights. Biden called it a symbol of “resilience, redemption and recovery” but warned buyers not to expect anyone to support its price. Coffeezilla criticised the project, while Base said it did not help design or promote the LAPTOP memecoin. For traders, the sharp sell-off highlights extreme volatility, weak fundamentals and significant launch-related risk. The event is bearish for LAPTOP itself, although it is unlikely to materially affect the broader crypto market.
Bearish
The impact on LAPTOP is bearish because the token lost 86.5% shortly after launch, indicating intense selling pressure and weak confidence among early traders. The sharp decline from $199.50 to $26.88 also suggests high launch volatility, possible profit-taking and limited support for the token’s valuation.
In the short term, large founder allocations, airdrop claims and uncertain liquidity could create further price swings. The lack of utility, governance rights, yield or profit-sharing rights gives traders few fundamental reasons to hold LAPTOP after the initial political narrative fades. Negative commentary from Coffeezilla and the absence of support from Base may further weaken sentiment.
Over the longer term, the six-month founder lockup and 24-month vesting schedule could reduce immediate supply pressure, but future unlocks remain a potential overhang. The political branding may generate temporary attention and trading volume, yet it is unlikely to provide durable demand. This assessment applies to LAPTOP itself; the launch is not expected to significantly destabilise the broader crypto market.