Notebook meme coin plunged 98% in hours after launching, charged with robot attack

Core Points

The value of the LAPTOP token has plunged nearly 98% from its initial offering price, mainly due to sniper robot attacks and lack of liquidity. Several early investors suffered losses of more than six figures, including losses of nearly $200,000 in a single wallet. Hunter Biden said he did not gain any personal financial benefits from it and emphasized that the tokens held by the team were still locked and were not being sold. Project developers plan to inject 4 million tokens into the Aerodrome liquidity pool as an incentive. Bubblemaps analysis shows that 60% of major token holders use wallets without any previous transaction history.

Market turmoil and sniper robot attacks

Hunter Biden linked LAPTOP memecoin went through a dramatic listing process on Wednesday before encountering a near-complete collapse, with its value falling by about 98% from its initial price of 5 cents. Project representatives attributed the sharp drop in prices to the activity of automated sniper robots and lack of market liquidity. Sniper robots are complex automated tools designed to identify newly issued tokens and perform purchases within milliseconds, thereby artificially driving up prices before ordinary market participants open positions.

The token was deployed on the Base blockchain network, and its initial price soared, but then reversed quickly. According to blockchain smart platform Nansen, in the first 24 hours, the token recorded 46,675 buy transactions and 16,038 sell orders. The platform identified 20,085 separate purchase wallets and 8,714 separate selling addresses. Most buyers were still holding positions at the time of data collection.

Among the wallet addresses monitored by Nansen, realized and unrealized losses were registered for a specific wallet totaling approximately $199,000. Another address did not perform any sell operations after purchasing approximately 28,400 tokens, showing a loss of nearly $118,000. The listing is not entirely unprofitable: a specific address holding approximately 49,700 tokens showed unrealized gains of approximately $13,000.

Independent analysis reveals abnormal positions

Independent blockchain analysis service Bubblemaps reported that 60% of LAPTOP's largest open wallets showed zero historical activity characteristics. Most of these addresses received initial funding on the day of issuance.

Hunter Biden denies making a profit

Hunter Biden responded to the price crash through his X (formerly Twitter) account, firmly denying that he and his team members had cleared any token positions. "The team's allocation share has been locked. No one on our side has sold and cannot have,"Biden wrote." I personally haven't made a penny."

As you can see, LAPTOP memecoin experienced sharp price fluctuations in the first few hours of trading. The headlines are the same: "Tokens fall 99%","Divestment Scam","Biden Crime Family". Such statements emerge endlessly. But this is far from the truth. The reality is that available liquidity..."

Official Statement and Token Economy Models

The LAPTOP development team issued an official community statement defending its issuance method. They emphasized that there was no pre-sale activity and confirmed that no tokens were allocated to investors, social media influencers or key opinion leaders. "There are no hidden deployments, no hidden supplies, and no surprises designed to benefit insiders," the team said.

The project founder controls 30% of the total supply of 1 billion tokens. The allocation was locked in for six months and then released monthly over the next two years. Another 30% of available tokens are connected to a prediction plan centered on political, cultural and cryptocurrency events. Depending on the results, the number of tokens will be destroyed or donated to charity.

The team allocation also includes 2% to compensate individuals who have suffered losses in TRUMP memecoin, and 8% reserved for subscribers to Biden's "Where's Hunter" Substack publication. In response to liquidity issues, the development team announced plans to allocate 4 million tokens to the Aerodrome liquidity pool as rewards starting at midnight Coordinated Universal Time (UTC) Thursday. It is also planned to destroy 10 million tokens in the first week.

Current market conditions

As of publication of this article, LAPTOP was trading at $0.8562, according to CoinGecko.