The Hunter Biden-themed LAPTOP memecoin shed 98 to 99 percent of its value during Wednesday's debut, with on-chain mechanics telling a different story than the team's explanation.
According to blockchain analytics, a project-linked wallet received 100 million tokens before trading opened. Once live, that same wallet dumped more than 42 million tokens into the market—a move that coincided directly with the price collapse. The team blamed sniper bots and thin liquidity for the crash and denied a rug pull, claiming tokens remain locked and Hunter Biden has not personally profited.
On-chain tracking firm Lookonchain documented severe individual losses. One trader's $200,000 entry collapsed to roughly $3,000. Blockchain analytics platform Bubblemaps called the launch a "bloodbath," reporting that the vast majority of early participants took losses.
The project had allocated 20 percent of total token supply for an airdrop targeting holders who lost money on President Trump's memecoin, positioning it as a community-building play.
Operational issues compounded the collapse. The official X account for LAPTOP was suspended, forcing the team to post statements on Medium instead. Despite the wreckage, the Foundation said it is not abandoning the project and plans to add liquidity pool incentives to stabilize price action.
