Hunter Biden related to meme currency LAPTOP Launched on Base on Wednesday morning Eastern Time, the price soared within minutes of opening, only to quickly fall back afterward. According to the on-chain data platform Arkham, the price reached as high as $190.81 just two minutes after its launch, but then tumbled to around $3.70 within an hour, with a pullback of nearly 99% from its intraday high.
Valuation far exceeds tradable liquidity
Arkham Data shows that when LAPTOP soared, the fully diluted valuation approached $144 billion, but at that time the liquidity pool was only about $48,000. The huge gap between the valuation and the actual tradable liquidity led to a rapid decline in price after the early buying interest subsided.
By the afternoon of that day, the price of LAPTOP was fluctuating in the single-digit lower range, at around $1.97. Based on that price, its market value was still approximately $780 million, with a fully diluted valuation of about $2.2 billion. Due to the shallow trading volume, prices continued to experience significant fluctuations in a short period of time.
Rapid divergence in profits and losses from on-chain transactions
On-chain tracking data shows that some addresses that set up ambushes in advance and sold quickly obtained considerable profits. One wallet withdrew approximately $249,800 from Binance before the asset went live, purchased 9,124 units of LAPTOP, and then sold most of its holdings within a few minutes, cashing out about $1.18 million.
However, some traders who bought at high prices soon faced substantial losses. Another trader spent about $200,000 to buy 919 LAPTOP coins at a price of around $218 each; one hour later, the value of this position was less than $3,000. The main difference in their outcomes came from the fact that their entry and exit times differed by only a few seconds.
Politics meme Currencies Show Similar Trends Again
The initial trend of LAPTOP is quite similar to that of several previous political figures-related meme coins. Reports mention that Trump-related token TRUMP reached around $75 shortly after its launch in January 2025, only to then experience a significant decline; a similar drop was also observed for tokens related to Melania Trump.
In the token allocation design of LAPTOP, a portion has also been reserved for airdrops to wallets that hold TRUMP and have incurred losses. However, based on the performance on the first day of trading, it appears that the market is still dominated by early entrants, automated trading, and quick profit-taking strategies.
Additional information:The original text also mentions that LAPTOP has a 6-month lock-up period for founder tokens, 30 destruction arrangements, and a batch-based airdrop mechanism. The actual effects of these designs still need to be observed through subsequent on-chain transaction data.
