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TRUMP Hunter Biden's $LAPTOP meme coin suffered severe shocks on its first day of listing
$LAPTOP is the most dramatic debut meme coin in the recent cryptocurrency market. The token was launched on Coinbase's Base network on September 9, and its price soared rapidly at the beginning of the opening session, but according to CoinGecko data, it plunged nearly 98% in the first hour of trading. Its market value briefly hit the multi-billion dollar level before slipping below $300 million, causing many traders and market observers to question the token's future prospects.
Cruel first day of listing
$LAPTOP opened at $190.81, but fell to a low of $3.70 within the first hour of trading. Even by meme standards, the speed of the collapse is impressive. In contrast, it took as long as 18 months for the TRUMP token to fall 97% from its peak, while $LAPTOP achieved a similar decline in less than 60 minutes.
The mechanism that led to the plunge was straightforward: the token's fully diluted valuation briefly approached $144 billion, but its liquidity pool contained only about $48,000 in assets. This creates a huge gap between the implicit valuation of the token and the actual available transaction funds. Because the order book for $LAPTOP is extremely weak, even a small sell-off from airdrop recipients is enough to cause the price to collapse.
For many participants, the loss was real and painful. The plunge caused multiple traders to record huge losses, including one trader who lost $197,000 in a matter of hours. Lookonchain also identified some typical cases: one wallet bought 919 $LAPTOP for approximately $200,000 around $218; another wallet added value to its initial $900 investment to more than $250,000 by selling during the early rally.
The token has caused controversy even before it was issued
The project faced a lot of resistance before the transaction started. Strong criticism of the listing from cryptocurrency traders prompted Kraken to delete a promotional post, and a Coinbase Base executive also distanced himself from the project. Base founder Jesse Pollak confirmed that the $LAPTOP team had contacted his team, but said Base made a "conscious decision" not to assist in the design or promotion of the token.
$LAPTOP is a homogeneous ERC-20 token on the Base network. As a meme coin, it has no practical utility in itself, but introduces two novel distribution mechanisms designed to promote long-term community growth. One design involves collaboration across political camps: 20% of the supply is allocated to airdrops, and the first beneficiaries are wallet addresses holding $TRUMP tokens (the meme coin Donald Trump launched a few days before his 2025 inauguration) and are at a loss.
At present, the price trend has become calm. Due to the lack of a substantial rebound and continued pessimism in market sentiment, the core question is whether $LAPTOP can find a real holder base or join the ranks of politically themed tokens that once shone but quickly fade away.
