Hunter Biden’s LAPTOP meme coin crashed 98% within an hour of launch Wednesday as onchain data exposed insider token distributions days before trading opened.
What Actually Happened at Launch
According to CoinDesk, LAPTOP opened on Base, Coinbase’s (NASDAQ:COIN) Layer-2 blockchain, briefly hitting $190 in the first two minutes before collapsing to $3.70 within the hour.
An hour after open it changed hands at $4.77, leaving a market cap of roughly $1.6 billion against just $2.5 million in pooled liquidity.
The collapse traced directly to insider distribution rather than ordinary selling, with Arkham flagging that a wallet tagged as a Laptop Token address received 100 million tokens, a tenth of total supply, seven days before launch and distributed 42.5 million of them into the open.
