Hunter Biden's LAPTOP token sees 80% of traders lose money within hours

Hunter Biden launched the LAPTOP token on the Base blockchain with a stated aim to counteract memecoin grifts. Within minutes of trading, the token’s price surged then collapsed, leaving most participants underwater.

Trader outcomes

According to Bubblemaps, 12,151 of the 15,206 wallets that traded LAPTOP incurred losses, while 3,026 wallets were profitable and 29 broke even or held unpriced positions. Most losses were modest: 11,311 wallets lost less than $1,000. Larger losses included 726 wallets down $1,000‑$10,000, 112 wallets down $10,000‑$100,000, and two wallets down $100,000‑$1 million.

Profit concentration

The gains were highly concentrated. Ten wallets earned between $100,000 and $1 million, and 78 wallets earned $10,000‑$100,000. Those 88 wallets collectively generated about $5.57 million in profit, resulting in a net positive aggregate trader P&L of roughly $178,000 despite the majority of participants losing money.

Price dynamics and liquidity

LAPTOP began trading at approximately 8:02 a.m. ET and peaked two minutes later. Its fully diluted valuation briefly appeared around $144 billion, even though the liquidity pool held only about $48,000. The thin liquidity caused the price to drop more than 95% within the first half‑hour.

Two on‑chain pools were identified: an Aerodrome pool with about $83,000 in USDC and a Uniswap pool with roughly $380,000. The Uniswap pool’s liquidity was not active until after LAPTOP had already fallen about 90% from its opening surge, creating vastly different results for early versus later entrants.

Notable trades

• A trader spent 900 USDC to buy 2,268.56 LAPTOP at ~0.40 USD each, then sold for 251,270 USDC at an average price near 111 USD, netting over $250,000 profit.
• Another wallet used 100 ETH (~$249,800) to purchase 9,124 LAPTOP and later sold 8,480 tokens for 472 ETH (~$1.18 million), achieving over $1 million in combined realized and unrealized gains.
• A later entrant spent $200,000 to buy 919 LAPTOP at an average price of ~218 USD, with the position later valued at roughly $3,000, reflecting an unrealized loss of about $197,000.

Wallet composition

Approximately 60% of the largest LAPTOP holders were “fresh wallets” created within ten days of the launch, many funded on launch day. While this does not prove coordination, it highlights the impact of entry timing on outcomes.

Tokenomics

LAPTOP has a fixed supply of 1 billion tokens. Allocation includes 20% for community airdrops (2% reserved for wallets that lost money on the TRUMP token), 30% for founders (locked for six months and vesting over two years), 30% tied to predetermined political, crypto, and cultural outcomes (with tokens burned or directed to charity based on prediction results), and 5% for charity.

Outlook

The founders’ allocation remains locked, removing immediate insider selling pressure. However, the token will need substantially deeper liquidity to avoid the extreme price swings experienced in its initial hours.