LAPTOP memecoin crashes over 97% within hour of launch

The LAPTOP memecoin, launched on the Base network on September 9, experienced a massive price collapse within its first hour of trading. After an initial surge that saw the token reach a peak of approximately $190 to $200, the value plummeted by over 97%, eventually trading at significantly lower levels.

Market analysts noted that the token's high implied valuation was not supported by sufficient liquidity, meaning large orders caused extreme price swings. Bubblemaps reported that the token's supply was “extremely concentrated,” increasing vulnerability to large-scale selling. Additionally, automated trading bots were able to react to the launch faster than manual investors, accelerating the initial volatility.

Data indicates that the crash had a widespread impact on retail participants, with roughly 80% of traders losing money. More than 15,000 wallets were reportedly affected by the rapid sell-off.