Hunter Biden's $LAPTOP Crashed. What It Might Take to Reboot This Memecoin
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| By Dawn Pennington |
Hunter Biden entered the memecoin arena this week with a brand-new token named after — what else — the laptop that dogged his father's 2020 campaign.
Hunter Biden’s Laptop (LAPTOP) launched on Base — Coinbase's network — on Sept. 9, with a total supply of 1 billion tokens.
Biden framed the coin as reclaiming a symbol once used against him and turning it into one of recovery.
$LAPTOP opened near $37. It quickly surged past $200 on a burst of volume, then dropped sharply.
The coin broke down overnight to 33 cents before stabilizing.
It recently traded just under 39 cents.
But apparently, the sellers weren’t coming from inside the house.
Founders, including Biden, hold 30%. They are reportedly locked for six months and vested over roughly two years.
The tokenomics have a political hook baked in: 20% of supply is being air-dropped in two rounds to:
- Wallets that lost money on the Official Trump (TRUMP) memecoin.
- A mailing list run by video journalist Andrew Callaghan. (He said he has "nothing to do with" the coin's rollout.).
- Anyone who subscribed to Biden’s Substack before Sept. 6 was also eligible for free tokens. Those can be claimed at LaptopToken.com (the official site) within 30 days of the launch.
Another 30% of supply is earmarked for a deflationary "event burn" tied to roughly 30 real-world triggers. Those include a Democrat winning the 2028 presidential election, $LAPTOP's market value flipping $TRUMP's, and Bitcoin hitting a new all-time high.
In other words, supply could shrink if certain political and market outcomes land — or expand if they don’t.
Your favorite crypto editors generally steer you away from memecoins …
But they also understand FOMO and the quest for profits on whatever the market deems hot.
So, if you are looking for an early technical read, Mark Gough told me …
- He’s watching 68 cents as the level that $LAPTOP needs to hold for a bounce toward $1.30.
- He sees support at 28 cents. Losing that support opens the door to a slide toward 10 cents.
- He also flagged the early volume — roughly $7.3M around the $220 print and $10.6M around $142 — as a sign that a handful of large buyers drove the initial spike.
That lines up with broader reporting that a small number of well-funded wallets accounted for most of the early hype.
For what it's worth, I bought a small stake at launch.
But the $LAPTOP profit window closed too quickly for regular investors to act.
So, I can tell you firsthand that chasing a memecoin in its first hours of price discovery isn’t generally a good idea.
Not even when the backstory is entertaining.
Things could be worse, however …
One buyer reportedly paid $222 for a single token!
My plan is to use the same strategy that Mark uses in his Next Crypto Superstars publication: dollar-cost averaging.
Mark is a big fan of scaling into, and out of, positions.
That very strategy helped him lead his subscribers to notch five big gains over the last month … ranging from 57.6% to a stunning 860.6%!
My plan is to use the figures I bolded above as potential places to add more or exit.
To be clear, memecoins are volatile by nature.
Once most of the free-token claims are made and recipients start cashing out, that could weigh on the price.
But if one or more of the political catalysts arrives, that could blow the lid off $LAPTOP.
For a more fundamental read, I asked Marija Matic what the small amount of available data suggests.
Based on its fully diluted valuation (FDV) — currently around $2.75B versus TRUMP's roughly $2.23B FDV — Marija says there may be room for a re-rating if the political narrative gains traction.
In other words, it can go higher.
But a few stars have to realign for that to happen.
Marija, as many of you know, is our resident Crypto Yield Hunter.
Because $LAPTOP is a Base coin, it could eventually become the basis for a yield strategy on Aerodrome (Base's dominant DEX).
Though, to be clear, this isn't yet confirmed given how new the token is.
There is one known quantity, however.
That is, that high-profile tokens like this one tend to attract scammers.
That’s why, from the outset, Biden cautioned to be careful about impersonators.
He said he'll never ask anyone to send crypto to claim tokens.
That suggestion was especially timely after what happened just days earlier.
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To your health and wealth,
Dawn
