Hunter Biden’s LAPTOP meme coin peaked two minutes after Wednesday’s launch and now trades 99% below that high. One trader cleared more than $1 million inside the window. Another turned $200,000 into less than $2,000.

Blockchain analytics firm Arkham put the peak at $199.51. Hours later the token changed hands at $2.27, a market value near $794.5 million, and it has kept sliding since. It trades on Base, the network Coinbase built.

A $48,000 Pool Was Pricing a $144 Billion Token

Arkham said the pool of money backing LAPTOP trades held about $48,000 shortly after launch, while the token’s full supply was being valued at $144 billion. A liquidity pool is the pot of assets buyers trade against, and a shallow one means a modest order moves the price a long way.

That mismatch drove what followed. The LAPTOP price was anchored to almost nothing, so a few large buys could mark it in the hundreds of dollars, and a few sells could erase that.

Ownership is concentrated too. Arkham’s holder list shows the two largest wallets, both tied to the project, holding 30% of supply each.

The $200,000 Buyer Paid More Than LAPTOP Ever Traded At

Blockchain tracker Lookonchain found the losing trader withdrew $250,000 from Binance before the launch, then spent $200,000 on 919 LAPTOP at an average of $218 a token.

That average sits about 9% above Arkham’s record high of $199.51. In a pool that shallow, an order that size pushes the price up as it fills. He absorbed his own impact. The stake has since fallen under $2,000.

On the other side, a wallet Lookonchain labels 0xa5019 spent 100 ether (ETH), worth $249,800, on 9,124 LAPTOP at roughly $27 each, then sold 8,480 of them for 472 ETH, or $1.18 million.

Biden had set expectations low.

“You should not expect me or anyone else to make this token more valuable for you. $LAPTOP isn’t just about owning something, it’s about saying something,” he wrote.

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Where the Price Landed Was Called Two Days Early

BeInCrypto calculated on Monday that LAPTOP would need roughly $2.26 a token to match Official Trump (TRUMP) across its full supply, the level that triggers Biden’s promised token burn. Hours after launch it changed hands within a cent of that mark.

Biden’s airdrop plan hands 20% of supply to community wallets, including people who lost money on TRUMP. That token trades near $2.20, about 97% under its January 2025 peak. Whether they sell into the same shallow pool is the next test.

Source: BeInCrypto