Biden's laptop has a crash rate of 95% within 30 minutes of release, after analysts have previously

After the launch of Orion's "LAPTOP" meme coin, its market value evaporated by more than 95%, and the market collapsed violently.

According to blockchain analysis company Arkham, about 30 minutes after Hunter Biden's meme coin "LAPTOP" was launched on the Base chain, its value plummeted by more than 95%. Investors who still hold the token will only be able to recover a very small portion of their initial investment.

$LAPTOP experienced a brutal selling wave: 80% of traders suffered losses. The specific data are as follows:

• Two people lost US$100,000 to US$1 million;
• 100 people lost more than US$10,000;
• 700 people lost more than US$1,000;
• Another 11,000 small traders suffered losses.

Two-minute peak and liquidity trap

LAPTOP tokens were officially launched at 8:02 pm and peaked two minutes later. At the time, Arkham data showed that the token had a fully diluted valuation (FDV) of $144 billion. This staggering figure is based on a liquidity pool of only $48,000, and the bubble is extremely obvious.

went online, Arkham reported that its fully diluted valuation had plunged to US$5 billion. According to CoinMarketCap data, the highest intraday price of the token was $401.12, and the lowest trading price of the day was only $1.20.

Currently, the price of the LAPTOP token is approximately US$1.50, a drop of more than 95%. It trades on two on-chain trading venues: one is the official Aerodrome pool (which holds $83,000 USDC) and the other is the Uniswap Side Pool (which holds $380,000).

Market makers 'cash in the chain triggers selling pressure

Some of the selling pressure is clearly visible in real-time trading. Exchange company Wintermute reportedly withdrew 2.5 million LAPTOP tokens from the token's Gnosis Safe. Of these, 2.09 million were transferred to Wintermute's own wallet, and the tokens were then routed to a recharge address on a centralized exchange.

According to Onchain Lens, approximately 500,000 LAPTOP tokens have been sold for approximately US$2 million through 356 transactions. For a token with a total supply of 1 billion yuan and a circulation of 350 million yuan, this inflow from internal supply distribution and rapid transformation into a sell order is a typical mechanism that leads to a collapse.

Retail investors 'huge loss warning

Lookonchain focuses on the case of a buyer who deliberately withdrew US$250,000 from Binance to chase LAPTOP before going online. He reportedly purchased 919 tokens for $218, spending $200,000. However, as of the time Lookonchain published the article, the value of the buyer's position had shrunk to about $3000.

Lookonchain wrote: "Don't FOMO (Missing Fear)," but the warning is too late for anyone who has already entered.

Warnings have long been issued

Bubblemaps was one of the voices pointing out the risks before the launch and subsequent crash, and it has always been committed to exposing problems with such projects.

Bubblemaps released an analysis of LAPTOP allocations before going online, calling readers to pay attention to anomalies. Later, Bubblemaps posted on the X platform stating that most of the main holders of the token are newly created wallets. "60% of wallets have no past activity," it said. It also clarified that the so-called "new wallet" refers to "obtaining funds within the past 10 days." The analytics platform also added that most such wallets receive funds on the day they go online.

Analyst irony and market history repeat

Analyst Benjamin Cowen gave an ironic two-word comment on the collapse: "I, to be honest, am shocked."

Hunter Biden is the son of former U.S. President Joe Biden and a member of the founding team of the token. The project reserves 20% of its supply for airdrops, in part for wallets that previously lost money on TRUMP tokens. According to statistics, as of the end of June, two-thirds of TRUMP buyers (approximately 988,905 wallets) had a total loss of US$3.81 billion.

This is not the first time that tokens linked to well-known political figures have fluctuated violently. The TRUMP token, launched in January 2025, lost approximately 55% of its value within minutes of the announcement of the MELANIA token. In addition, the LIBRA token associated with Argentine President Javier Millay also plunged more than 94% within hours of being launched.

Hunter Biden defended the project the day before its launch. He wrote on the X platform: "Clear, firm, seven years sober, and has a lot to say." This confirmed the Wall Street Journal's report that he supported a meme coin called LAPTOP.