Hunter Biden’s LAPTOP memecoin surged after launching on Base before losing more than 99% from its peak within hours, with valuation estimates varying widely across data providers amid thin liquidity. Some price feeds showed the token trading above $300, while CoinGecko recorded an all-time high of $199.51 before it fell to roughly $4.15. The launch drew further scrutiny after Arkham identified a wallet tagged as a Laptop Token address that received 100 million tokens seven days before launch and distributed 42.5 million into the market. Bubblemaps said more than 11,500 wallets, representing over 80% of LAPTOP buyers, were underwater, while about 60% of top holders were recently funded wallets. Biden said LAPTOP was intended to reclaim the laptop controversy surrounding his father’s 2020 presidential campaign and warned purchasers not to expect the team to increase its value. Base founder Jesse Pollak said Base chose not to assist with the token’s design or promotion, while Kraken deleted a promotional post after criticism.