Hunter Biden’s Memecoin Drops Over 99%: What’s Left for Airdrop Recipients?
Hunter Biden’s LAPTOP memecoin dropped by more than 99% after briefly showing a nominal value approaching $1.3 million for subscribers who received the airdrop.
Hunter Biden’s LAPTOP memecoin, launched on the Base network, experienced a sharp surge and collapse during its first trading hours on September 9. According to DexScreener data, the token’s price briefly climbed above $300, while its market capitalization reached approximately $110 billion. However, this level did not last long, and the price fell by more than 99% within minutes.
10% of LAPTOP’s total supply was set aside for the previously announced initial community airdrop. Users who subscribed to Hunter Biden’s Substack newsletter before September 6 were able to claim free tokens. According to on-chain data, each subscriber received 4,276 LAPTOP. At the token’s peak of over $300, the nominal value of this amount was approximately $1.3 million per person.
The value of the LAPTOP airdrop evaporated within hours
Since the token’s liquidity and the time it spent at the peak were limited, it did not seem possible to realize nearly all of this nominal value through sales. Although the price fell to about $2 hours after the collapse, the value of the 4,276-token allocation was still around the $8,500 level.
On-chain data platform Bubblemaps reported that more than 80% of over 11,500 wallets that purchased LAPTOP were at a loss following the launch. The platform also noted that approximately 60% of the largest token holders consisted of new wallets funded within the last 10 days.
Hunter Biden stated that he built the project on themes of resilience and recovery, while allocating 2% of the total supply to investors who lost money on the TRUMP memecoin. 30% of the supply was allocated to the founders, and these tokens will remain locked for six months and be distributed over 24 months. Another 30% portion will be burned or donated to charities based on the outcomes of real-world predictions.