Hunter Biden’s LAPTOP memecoin lost more than 99% during a turbulent Wednesday debut, with the project saying automated sniper activity and insufficient liquidity in the launch pool drove the sharp price reversal.
The token rose above $300 following its airdrop and, during its first hour of trading, briefly carried a market capitalization of roughly $110 billion. Most of that advance quickly disappeared, leaving LAPTOP near $0.84 shortly after midnight Thursday, according to DexScreener.
The project said its original trading pool introduced LAPTOP at $0.05. According to a Wednesday Medium update from the team, strong buying interest emerged immediately, drawing sniper bots as the market maker lacked enough liquidity to meet demand. The team said the imbalance triggered the rapid surge and reversal before the pool could deepen.
To address that problem, the project plans to release 4 million tokens for Aerodrome liquidity incentives at midnight UTC on Sept. 10, increasing the amount available for liquidity support. The planned release equals 0.4% of LAPTOP’s total supply. The team said the move is designed to bring trading liquidity closer to market demand.
Bubblemaps separately estimated that roughly four in five people who traded LAPTOP ended up with losses. The blockchain analytics company identified two traders whose losses fell between $100,000 and $1 million, around 100 who lost between $10,000 and $100,000, and approximately 700 whose losses ranged from $1,000 to $10,000.
Prediction Outcomes Set Up 10 Million-Token Burn
Meanwhile, LAPTOP’s supply is being reduced under a mechanism linked to real-world predictions. The project said two of those events have produced “Yes” outcomes, requiring 10 million tokens to be destroyed and cutting circulating supply by an expected 1% during the first week after launch.
Biden had previously explained on X that 30 separate predictions account for 30% of the token supply. Each prediction is connected to a public, real-world event: tokens assigned to an outcome are burned when it resolves “Yes,” while the tokens are donated to charity if it does not.
One completed prediction involved 5 million LAPTOP and was fulfilled after digital artist Beeple mentioned the token, according to the project’s Medium update. The team did not disclose what triggered the other resolved prediction.
Project Addresses X Suspension and Token Distribution
Another issue emerged Wednesday when X suspended the LAPTOP Foundation’s official account. Biden said the project was seeking to regain access to the account and indicated that the suspension would not cause him to step away.
The team also provided further details about how the token reached users. It said LAPTOP was not sold through a presale, influencers received no special allocations, and buyers did not receive an opportunity to purchase the token before its wider availability. The project also said it had not paid crypto key opinion leaders (KOLs) to promote LAPTOP.
For the airdrop, subscribers who joined Hunter Biden’s Substack before Sept. 6 could claim 80 million LAPTOP tokens. The team characterized those recipients as genuine individuals rather than artificial or preferentially selected accounts.
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