Hunter Biden LAPTOP memecoin plummets 99.5% after launch

The LAPTOP memecoin, based on the theme of Hunter Biden’s laptop, has plunged 99.5% within hours of its launch on the Base network. The token reached an all-time high of $314.94 but is now trading around $1,614. Despite the free fall, the estimated circulating market capitalisation still stands at around $565 million.

Key points:

• LAPTOP was launched on 9 September on Base with a total supply of 1 billion tokens
• The price fell from $314.94 to $1,614, a loss of 99.5%
• Market makers GSR, G20 and Wintermute received a combined 23 million tokens, or 2.3% of the total supply

From $314 to $1.61 in a few hours

The LAPTOP token was launched on 9 September 2026 on the Base network with a total supply of 1 billion tokens. Shortly after launch, the price surged to a peak of $314.94, but then rapidly collapsed. According to GMGN data, the token is now trading around $1,614, with a low of $1,116.

Total trading volume so far amounts to approximately $11.74 million. Based on the previously announced initial circulating supply of 350 million tokens, the circulating market capitalisation comes to approximately $565 million. The fully diluted valuation is around $1.61 billion.

Market makers received 2.3% of the total supply

On-chain analyst ai_9684xtpa reports that three market makers received a portion of the tokens at launch. GSR received 15.5 million tokens, G20 received 5 million and Wintermute received 2.5 million LAPTOP tokens. In total, that amounts to 23 million tokens, or 2.3% of the total supply.

The involvement of professional market makers such as major trading firms in memecoins is not exceptional, but it does raise questions about the distribution of tokens at launch and the impact of that distribution on the price. The GMGN price chart shows a classic pattern: a sharp peak immediately after opening, followed by an almost vertical fall and little recovery thereafter.