A newly launched meme coin referencing Hunter Biden’s laptop experienced a dramatic debut on the Base network, surging to a peak before losing nearly all of its value within minutes.
Rapid Rise and Fall
The token, called LAPTOP, reached a high of $190.81 shortly after trading began. However, the price then collapsed by approximately 99% as thin liquidity was overwhelmed by a wave of selling.
Market Dynamics
The extreme volatility highlights the risks associated with meme coins, particularly those with limited liquidity. In this case, the initial price spike was quickly erased when sell orders outpaced available buyers.
