The $LAPTOP memecoin, launched on the Base network, resulted in losses for approximately 80% of its traders. According to data from the on-chain analytics platform Bubblemaps, the majority of retail participants suffered financial hits.
The loss distribution is significant: over 11,000 wallets lost less than $1,000, around 700 wallets lost more than $1,000, and 100 wallets lost over $10,000. Two wallets experienced losses between $100,000 and $1 million.
The token, linked to the Hunter Biden laptop narrative, saw its market cap reach hundreds of millions, and possibly billions, at its peak. However, it crashed by more than 99% within hours of its launch.
Bubblemaps identified a suspicious pattern among top holders. Many of the largest positions were held by newly funded wallets with little to no previous on-chain activity, indicating coordinated sniping behavior.
The token launched with a total supply of 1 billion tokens, with 35% unlocked at the token generation event. This structure allowed early entrants to capture a significant portion of the liquid supply before organic buyers entered the market.