Trader Got Trapped in LAPTOP Memecoin and Lost $197,000 after Its Price Crash

• A trader put $200,000 into Hunter Biden’s LAPTOP.
• Within hours, the position dropped to $3,000 as the memecoin’s price collapsed.
• At the time of writing, the asset’s price had dipped to $1.26.

A trader lost around $197,000 after investing $200,000 in the LAPTOP memecoin launched by Hunter Biden, the son of former US President Joe Biden. According to analytics platform Lookonchain, the user withdrew $250,000 from Binance in advance to buy the token immediately after launch, but due to a sharp price drop, the value of the position fell to roughly $3,000.

LAPTOP began trading on September 9 and showed extreme volatility from the outset. The memecoin is tied to the well-known story of Hunter Biden’s laptop, and its launch was previously announced on X.

It was previously reported that LAPTOP’s total supply is 1 billion tokens, and project founders, including Hunter Biden, are set to receive 30% of the issuance. Some of the tokens were also planned to be distributed to users who lost funds on the TRUMP memecoin.

The trader spent $200,000 on 919 tokens at an average price of about $218 per coin.

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After LAPTOP’s sharp drop, the value of the purchased tokens fell to roughly $3,000. As a result, the trader’s unrealized loss is nearly 99% of the initial investment.

LAPTOP Reached Its Peak Two Minutes After Launch

According to data from Arkham, LAPTOP trading started at 20:02, and by 20:04 the token had already hit a local peak. At the time of publication, Arkham estimated the memecoin’s FDV at roughly $144 billion, while the liquidity pool held only about $48,000.

According to CoinMarketCap, at the time of writing LAPTOP’s price had fallen to around $1.26, with a 96.6% drop over the past 24 hours. The token ranked 210th on the platform’s list.

Recall that the LAPTOP story unfolded shortly after another spike in memecoin interest on the Robinhood Chain network. There, amid the conflict surrounding tokenized AMC shares, the MEME memecoin linked to the corresponding asset appeared, and its FDV surged by 206,400% in a single day.

Earlier, MEME, ZCAT, and STONK memecoins also saw trades with multi-million-dollar profits. In particular, two traders made a combined total of more than $3.3 million on MEME in less than 12 hours, while another user turned about $21,000 into $3.78 million thanks to ZCAT and STONK.

Another trader spent $1,419 on the Anonymous Cat (ZCAT) memecoin on the Solana network and increased the position’s value to roughly $1.57 million after the token rose by more than 100,000%.

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