Hunter Biden's $LAPTOP memecoin crashes 99% after brief surge

Hunter Biden’s $LAPTOP memecoin, launched on Coinbase’s Base network, experienced a massive price collapse shortly after its debut on September 9. The token briefly surged to highs reported between $190 and over $400, reaching an implied fully diluted valuation of up to $401 billion, before plummeting by more than 99% within hours.

On-chain data indicates that approximately 80% of participants lost money during the volatility. While one anonymous trader reportedly turned a $250,000 investment into roughly $1.18 million, many others saw significant losses, with some investors losing nearly their entire savings.

Hunter Biden has denied allegations of profiting from the crash or engaging in a “rug pull,” stating that his team’s token allocation remains locked and that he has not personally made any money from the project. The project team attributed the extreme volatility to insufficient liquidity and the impact of predatory “sniper bots” that target new token pools. The memecoin was designed as a satirical nod to the 2020 controversy surrounding Biden’s laptop.