Image Credit: Shutterstock
A crypto trader spent about $170,000 buying Hunter Biden’s LAPTOP memecoin after its initial collapse, only for the position to fall another 87%. On-chain tracker Lookonchain said the wallet bought 28,448.72 LAPTOP at an average $5.97, with the holding later valued near $21,000.
Trader Buys After LAPTOP’s Initial Crash
Lookonchain flagged the wallet on Sept. 10, describing the transaction as an attempt to buy after LAPTOP had already fallen about 98% from its launch-day highs. The tracker linked the position to wallet 0x4f9f63f5 and valued it at roughly $21,000 when LAPTOP traded near $0.87.
The decline represents a mark-to-market loss rather than a confirmed realized loss unless the holder sells the tokens. CoinGecko subsequently showed LAPTOP around $0.77, more than 99% below its $199.51 recorded peak, after touching an intraday low near $0.72.
LAPTOP Falls From $199.51 Peak
LAPTOP launched on Base on Sept. 9 and experienced extreme price swings almost immediately. CoinGecko recorded an all-time high of $199.51 on launch day, while the token fell below $1 within roughly a day.
The $5.97 buyer was not the only wallet to make a large trade during LAPTOP’s early volatility. Lookonchain separately identified a trader who spent about $200,000 buying 919 LAPTOP near $218, while another wallet turned an initial $900 purchase into more than $250,000 after selling during the early surge.
Biden Warned Buyers Before Launch
Biden promoted LAPTOP as a memecoin built around reclaiming the story of his laptop. Before trading began, however, he explicitly told potential buyers not to rely on him or others involved with the project to increase its market value. Biden wrote:
“You should not expect me or anyone else to make this token more valuable for you.”
The project’s own terms similarly state that LAPTOP carries no promise of price, liquidity, or future market availability. They warn that the token could lose some or all of its value and describe it as a memecoin for entertainment and community participation.
One Billion Tokens Carry Staggered Allocations
LAPTOP has a maximum supply of 1 billion tokens. The project says 35% of supply was unlocked at the token generation event.
Separately, its overall allocation includes 30% for founders, 20% for airdrops, 10% for liquidity, 5% for the foundation treasury, at least 5% for charity and 30% tied to prediction events. Tokens linked to specified prediction outcomes are burned when those events occur and designated for charity when they do not.
