The $LAPTOP memecoin launched on the Base network and promptly did what memecoins do best: made a small number of traders very rich and left everyone else holding the bag. Bubblemaps, the visual on-chain analytics platform, published data showing that roughly 80% of traders who touched the token ended up losing money.
The numbers paint a grim picture across the board. Over 11,000 wallets were down less than $1,000, around 700 wallets lost more than $1,000, and 100 wallets reported losses exceeding $10,000. At the extreme end, two wallets absorbed hits between $100K and $1M. Bubblemaps described the aftermath as a “bloodbath.”
A 99% crash in hours
The token, tied to the Hunter Biden laptop narrative, followed a trajectory that has become almost scripted in the memecoin playbook. An initial price surge pushed the market cap into the hundreds of millions, possibly into billions at its peak, before a crash of more than 99% within hours of launch.
The mechanics behind the implosion were textbook. Thin liquidity paired with high trading volumes created the conditions for extreme volatility. When the earliest buyers started selling into a shallow order book, the price collapsed almost instantly, trapping later entrants at prices that would never be seen again.
