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LAPTOP memecoin plunges 98% on thin liquidity and sniper bots
The project plans to add 4 million tokens to Aerodrome pools starting Sept. 10 to boost liquidity after the selloff.
Hunter Biden’s LAPTOP memecoin fell as much as 98% from its opening level, with the project pointing to thin liquidity and automated “sniper bots” that bought within seconds of launch, triggering a fast spike and reversal. CoinDesk reports the team said the token launched at 5 cents amid heavy demand, but the initial liquidity was too small to absorb the rush.
Onchain data shared with CoinDesk by blockchain analytics firm Nansen showed some traders were hit with six-figure losses after the drop, even as most buyers had not sold. Nansen recorded 46,675 buy transactions versus 16,038 sells over 24 hours, based on 20,085 unique buyers and 8,714 unique sellers.
CoinDesk’s analysis of five wallets Nansen examined found one address was down about $199,000 total, including roughly $171,000 realized losses and about $27,900 in unrealized losses. Another wallet that bought about 28,400 LAPTOP without selling was down roughly $118,000, while a separate address holding about 49,700 LAPTOP was up about $13,000 in unrealized profit at the time of the snapshot.
The project also rejected claims of insider preferential access, saying there was no presale and no allocations for investors, influencers, or key opinion leaders. CoinDesk reports it will deploy an additional 4 million tokens, equal to 0.4% of total supply, to incentivize liquidity on Aerodrome pools beginning Sept. 10. Nansen estimated LAPTOP at roughly a $720 million market capitalization and a $2.1 billion fully diluted valuation, figures the team noted can be inflated for newly launched tokens when small trades move prices.
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