Hunter Biden's $LAPTOP Coin Crashes Minutes After Launch: Here's Why

Hunter Biden's Laptop token just had a rough first day. The memecoin, launched on the Base network on September 9, shot up to $199.51 within minutes of going live. Then it fell apart. Hunter Biden's Laptop, trading under the ticker $LAPTOP, dropped as low as $0.72 within hours. That's a loss of more than 99% from its peak. As of the latest check, the token sits around $0.8661, down 99.6% on the day. The crash has traders asking a simple question. Is the LAPTOP coin rug pull talk fair, or was this just a wild memecoin launch gone wrong? What Is Hunter Biden's Laptop Crypto Coin? Hunter Biden's Laptop ($LAPTOP) is a memecoin he co-launched on the Base network on September 9, 2025, named after the personal laptop he left at a Delaware repair shop in 2019. That laptop's leaked contents became a flashpoint in the 2020 presidential election. Biden said the token was his way of taking the symbol back. In posts on X, he said the project was about helping people recover, not about making himself richer. He also took a jab at the Trump family's crypto ventures, calling the $TRUMP token a "grift." "I also want to make some money," Biden told Bloomberg, a more candid line than his public posts. Why Did the LAPTOP Token Crash So Fast? LAPTOP crashed because a thin $48,000 liquidity pool could not absorb heavy selling from insiders and market makers who received large token allocations before launch. Blockchain data from Arkham showed a project wallet got 100 million tokens, or 10% of the total supply, a week before launch. That wallet sold 42.5 million tokens once trading opened. Market maker GSR also received a large pre-launch allocation. It sold much of that allocation right away too. Here's the real problem. The liquidity pool backing LAPTOP trades held only about $48,000 at its peak. That's a tiny amount of real money supporting a token that briefly touched a fully diluted value near $144 billion on paper, according to on-chain data. CoinGecko's own tracker shows a lower, still-large fully diluted valuation of $865.5 million. The gap between the two figures comes down to which price snapshot and supply assumptions each source used during the first chaotic minutes of trading, and it's a reminder that FDV numbers on brand-new tokens can swing wildly within the same hour. When big holders sell into a pool that small, the price has nowhere to go but down. CoinGecko data also shows the token's full 24-hour range ran from $0.7234 up to $199.51, illustrating just how violent the swing was in a single day.