Hunter Biden-linked meme coin LAPTOP experienced extreme volatility during its first trading hours on Base. The token delivered million-dollar gains to some investors while leaving others with heavy losses.
LAPTOP climbed above $200 shortly after trading began. However, rapid selling pressure soon pushed the price below $15.
One investor who bought near the peak lost approximately $197,000. Meanwhile, another trader made more than $1 million within minutes.
The token’s fully diluted valuation exceeded $300 billion at its peak. However, low liquidity meant this figure did not accurately reflect the market’s real depth.
LAPTOP investment generated $1 million within minutes
Blockchain analytics platform Lookonchain shared the transactions of the profitable trader. The investor spent 100 ETH to purchase LAPTOP.
At the time, the 100 ETH was worth approximately $249,800. The investor used this amount to buy 9,124 LAPTOP tokens.
The trader then sold 8,480 tokens as the price climbed. The sale generated 472 ETH, worth approximately $1.18 million.
The investor also retained 644 LAPTOP tokens in the wallet. These remaining tokens were worth approximately $110,000 when Lookonchain published its findings.
Consequently, the trader’s realized and unrealized profit exceeded $1 million. However, the value of the remaining tokens may change rapidly amid continued volatility.
Investor who bought LAPTOP near the peak lost 98%
Another investor who followed the rally suffered a significant loss. According to Lookonchain, the trader had previously withdrawn $250,000 from Binance.
The investor later spent approximately $200,000 to purchase 919 LAPTOP tokens. The average purchase price stood at $218 per token.
However, LAPTOP plunged almost immediately after the purchase. The position’s value fell from approximately $200,000 to around $3,000.
As a result, the investor lost more than 98% within minutes. The loss reached approximately $197,000 in monetary terms.
The two transactions highlighted the risks associated with low-liquidity meme coin markets. The same token created a fortune for one investor while nearly wiping out another’s capital.
LAPTOP valuation collapsed from $300 billion
LAPTOP’s volatility extended beyond individual transactions. Lookonchain, citing GMGN data, highlighted the collapse in the token’s fully diluted valuation.
The fully diluted valuation exceeded $300 billion during the first 40 minutes. However, the figure subsequently plunged to $4.3 billion.
Meanwhile, total trading volume stood at only around $6.8 million. Therefore, the $300 billion valuation lacked strong and deep market liquidity.
For meme coins, the latest trading price is multiplied by the total token supply. Even a few transactions within a thin market can produce extremely high valuations.
Therefore, LAPTOP’s peak did not mean investors could sell their tokens at the same price. Rapid selling can push both the price and apparent valuation sharply lower.
What is Hunter Biden’s LAPTOP token?
LAPTOP is a meme coin project founded by Hunter Biden, the son of former US President Joe Biden. The token references the laptop controversy that dominated American political debate for years.
The project operates as an ERC-20 token on the Base network. According to market data, the total supply stands at 1 billion LAPTOP.
The project released 35% of the total supply during the token generation event. The remaining tokens are subject to lock-up and vesting periods.
The project allocated 20% of the supply to community distributions. Some wallets that suffered losses from the TRUMP meme coin were also expected to qualify.
Meanwhile, the founders received an allocation equal to 30% of the total supply. These tokens remain subject to lock-up and gradual vesting conditions.
LAPTOP provides no revenue rights or financial returns. Its price largely depends on market attention, liquidity and speculative demand.
