LAPTOP crashes 98 percent in its first two hours
Hunter Biden LAPTOP memecoin, launched on Wednesday on the Base network, collapsed almost immediately after trading started. According to CoinGecko, the 9 September peak printed near 12:00 UTC at 199.51 USD, and by 14:19 UTC the price had fallen to 3.57 USD. The drop is about 98.2 percent in roughly two hours.The launch itself was loud: on the eve The Block described the tokenomics in detail. The issuer is the Phoenix Veritas Foundation with 1 bln tokens in total. Community airdrop gets 20 percent, another 30 percent is tied to 30 public events under a burn-or-charity rule, and 30 percent goes to founders with a six-month lock-up and 24-month vesting.
Fig. 1. LAPTOP price on 9 September, USD: peak 199.51 and crash to 3.57 in two hours, down 98.2 percent. Source: CoinGecko data.
What the numbers show
Here it matters to separate verified data from market noise. According to CoinGecko, circulating supply is now 350 mln out of 1 bln, market cap is about 480.4 mln USD and fully diluted valuation is about 1.37 bln USD. The main Aerodrome pair on Base, according to Dexscreener, trades near 2 USD with about 12.3 mln USD in 24-hour volume and about 1 mln USD in liquidity.- Peak - 199.51 USD near 12:00 UTC on 9 September, according to CoinGecko;
- Price by 14:19 UTC - 3.57 USD, down 98.2 percent in two hours;
- Market cap - about 480.4 mln USD, FDV about 1.37 bln USD;
- Aerodrome pair on Base - near 2 USD, volume 12.3 mln USD, liquidity about 1 mln USD, according to Dexscreener.
ℹ INFO
The key point is that the crash happened on very thin liquidity. Volume and pool depth are orders of magnitude below the diluted valuation, so the first sales pushed the price almost to zero.
Why it matters
Biden himself warned in his post not to expect him or anyone else to make the token more valuable. One more detail: 2 percent of the airdrop is reserved for TRUMP holders with losses, while TRUMP itself, according to The Block, left almost 1 mln wallets with 3.8 bln USD in losses.
⚠ IMPORTANT
The bottom line without illusions: down 98 percent in two hours is not a correction but a classic launch price failure. Buying that fall means betting on a rebound in paper with no fundamentals.