- LAPTOP meme coin suffers a sharp launch-day collapse, with the team blaming automated bots and insufficient initial liquidity.
- Bubblemaps reports losses for roughly 80% of traders, including two wallets down between $100,000 and $1 million.
- The team announces 4 million tokens for liquidity incentives and a planned burn of another 10 million tokens.
Hunter Biden’s LAPTOP meme coin plunged after its September 9 debut on Base, prompting a response from the project team. Reports place the decline from early trading peaks at roughly 98% to more than 99%.
The foundation attributes the volatility to automated sniper bots and inadequate starting liquidity. It now plans liquidity incentives and token burns, while blockchain analytics show widespread losses among traders.
LAPTOP meme coin team cites bots and limited liquidity
In its Medium statement, the team says the initial pool opened at $0.05 per token. Demand exceeded the market maker’s available liquidity, producing a rapid price surge followed by a collapse.
The foundation also blames sniper bots, which target newly opened trading pools. That explanation represents the team’s account, rather than an independently established cause of the entire decline.
Bubblemaps estimates that approximately 80% of LAPTOP meme coin traders lost money. Two wallets lost between $100,000 and $1 million, while roughly 100 recorded losses exceeding $10,000.
Another 700 wallets lost more than $1,000, with around 11,000 suffering smaller losses. These figures describe trader outcomes at the time of the analysis.
Liquidity incentives and planned burns follow the sell-off
The foundation earmarks 4 million tokens for Aerodrome liquidity incentives starting September 10 at midnight UTC. That allocation represents 0.4% of total supply.
Separately, the LAPTOP meme coin team says two prediction events resolved positively, triggering plans to burn 10 million tokens. This equals 1% of total supply, rather than a verified 1% reduction in circulating supply.
One event involved artist Beeple publicly referencing the project, accounting for 5 million tokens. The statement does not identify the second event.
Meanwhile, Biden says the team is seeking restoration of its suspended official X account. The foundation denies conducting a presale or allocating tokens to investors and influencers.
According to the team, founders hold 30% of LAPTOP meme coin supply under a six-month lock and two-year vesting schedule. Coinbase Custody holds those tokens.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
