Hunter Biden's LAPTOP Coin Creates A Crypto Millionaire and a $200,000 Bagholder

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.