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TRUMP Hunter Biden's "LAPTOP" meme token launches Base network, political controversy turns into tradable crypto assets
On September 9, Hunter Biden's related "LAPTOP" meme token was officially launched on Coinbase's Base network, transforming the political controversy surrounding its laptop into a tradable cryptocurrency.
Meme tokens (memecoins) are cryptocurrencies built mainly based on Internet jokes, characters or viral narratives rather than traditional utility functions. Its price is often driven by market hype, social media popularity and speculation. It has extremely high volatility and often rises and falls sharply within a few hours.
Project Background and Political Purpose
The project was first announced on September 7 and is positioned to allow Biden to "regain" the narrative initiative of his laptop story. This incident was a major controversy during the 2020 U.S. election.
At the same time, the token also targets President Donald Trump's encryption business. 20% of the total supply of LAPTOP tokens is allocated for airdrops, with a portion specifically targeted at wallet addresses that have suffered losses in trading Trump's officially issued "Official Trump (TRUMP)" meme tokens.
This is a fairly large group. A Reuters survey in June this year showed that since the launch of the token in January 2025, more than 1 million TRUMP investors have incurred a cumulative total of approximately US$2.3 billion in realized and unrealized losses.
Huge loss in a single day: $200,000 bet almost zero
Just hours after the LAPTOP token was launched, some traders experienced first-hand the risk of a rapid reversal of earnings on the first day of issuance of Meme token.
The blockchain data analysis account Lookonchain pointed out that a wallet withdrew approximately US$250,000 from Binance before the token went online, and then spent 200,000 USDC to purchase approximately 919 LAPTOP tokens. Online transaction records show that the wallet conducted two transactions of 100,000 USDC each, and obtained approximately 399.7 and 519.7 LAPTOP tokens respectively. These deals mean the average entry cost is about $218 per ticket.
However, according to Lookonchain, the value of the position plummeted to approximately US$3,000 shortly after, losing approximately 98% of its value. DeBank data shows that the 919 LAPTOP tokens held in the wallet were worth approximately $4,675 at the time.
Structural risks and extreme volatility
Other traders have previously warned about the token's structure. Cryptocurrency commentator Elja pointed out the problem of concentrated supply of LAPTOP tokens and wrote: "Hope you are not buying $LAPTOP to become someone else's 'exit liquidity'."
LAPTOP tokens experienced extreme fluctuations almost immediately after their launch. CoinGecko data showed that the token hit an all-time high of $199.51, and then dropped as low as $4.15. As of press time, LAPTOP was trading at approximately $5.60, a drop of nearly 97% in 24 hours.
