Crypto Trader Loses 87% After Buying $LAPTOP Dip at $5.97

A crypto trader attempted to buy the dip in Hunter Biden's LAPTOP memecoin, which is built on Base. The price continued to decline, and the trader has now lost the bulk of the $170,000 invested.

Lookonchain data shows the trader purchased 28,448.72 LAPTOP tokens at $5.97 each. The position's current value is around $21,000, representing an 87% decline from the buy price, with the token trading at $0.87, per DeBank wallet tracking.

A Coin Built to Crash

According to Quartz, LAPTOP debuted on Wednesday and shed roughly 98% of its value in the first hour. The token dropped from a high of $190.81 to a low of $3.70. An hour after launch, it was trading around $4.77. That gave it a market cap near $1.6 billion, backed by a liquidity pool of only $2.5 million.

Someone still hasn't given up on $LAPTOP.

After $LAPTOP crashed 98%, this guy spent $170K to "buy the dip," buying 28,448.72 $LAPTOP at $5.97.

It's now worth just $21K — down another 87%.https://t.co/MduOcPiaz6 pic.twitter.com/g0tSR3okzj

— Lookonchain (@lookonchain) September 10, 2026

Earlier, the disparity was even more pronounced. Arkham, a blockchain intelligence firm, discovered that the liquidity pool supporting LAPTOP trades contained about $48,000 soon after the token debuted. The token's fully diluted valuation briefly hit $144 billion.

Hunter Biden, aged 56 and the son of ex-President Joe Biden, created the token based on his laptop. He had left the laptop at a Delaware repair shop in 2019, and its data sparked years of political controversy.

They turned laptop into a weapon. I turned it into a token.

— Hunter Biden, via Bloomberg

Taking Aim at Trumps’s Memecoin

The founders, which include Biden, control 30% of the token's one billion supply. Those tokens are locked for six months and will vest over two years.

The Wall Street Journal was the first to report those terms. An additional 20% is allocated to wallets that were burned by Trump's coin, as well as Biden's Substack subscribers. Another portion goes to a mailing list associated with video journalist Andrew Callaghan. Callaghan has stated he is not involved in the project.

The token's debut also served as a dig at Trump. The TRUMP token, launched over a year ago, still trades approximately 97% below its January 2025 high.

I also want to make some money.

— Hunter Biden, via Bloomberg

The trader who purchased at $5.97 wasn't the only one pursuing the LAPTOP opening surge. A different wallet invested $200,000 close to the all-time high, and that position dropped to a few thousand dollars within hours.

For the dip buyer, the subsequent crash serves as a lesson. The token's volatility persisted beyond the first hour. A shallow order book can harm late entrants just as quickly as it hurt those who bought at the peak.