LAPTOP Meme Coin Plunges 99.5% From $314.94 ATH

Hunter Biden's LAPTOP meme coin is trading at around $1.61, down roughly 99.5% from its all-time high of $314.94, per GMGN data. The token fell as low as $1.116 during the slide and has logged about $11.74 million in total trading volume since launch.

LAPTOP launched on Base on September 9 with a 1 billion total supply. Against the previously disclosed initial circulating supply of 350 million tokens, the circulating market cap is estimated at roughly $565 million, with a fully diluted valuation of about $1.61 billion. The 65% gap between circulating and FDV is the kind of unlock overhang that typically caps any bounce once early holders start rotating out.

Why it matters

On-chain analyst @ai_9684xtpa traced allocations to three named market makers: GSR received 15.5 million LAPTOP, G20 received 5 million, and Wintermute received 2.5 million, a combined 2.3% of supply. Naming institutional market makers next to a politically charged meme token is the kind of disclosure that tends to invite questions about who the counterparty liquidity was actually serving.

Market impact

The price action follows a familiar meme-coin arc: a parabolic launch on attention, then a slow grind back to where the market makers parked their inventory. Whether the remaining $565M float clears at these levels or drifts lower depends on whether the named market makers keep providing two-sided liquidity or quietly step back.

Source: [GMGN.AI | The Fastest Multi-Chain Meme Trading Terminal](https://gmgn.ai/)