The memecoin LAPTOP, launched by Hunter Biden, reached a price of $316.75 in under two minutes on September 9 before losing more than 98% of its value within an hour. A report by Groom Lake reveals that the main trading pool contained only 0.003% of laptop tokens, with fewer than 30,000 units for a pool intended to hold over $35,600, allowing a $6.02 purchase to increase the displayed price by 5%. The two market makers recruited to support trading provided only $5,244 initially to the main pool despite receiving $500,000 total, and liquidity available within 5% of the displayed price dropped from $16,158 to zero in 84 seconds. The founder’s wallet retained all 300 million LAPTOP tokens until October 2, confirming founders did not sell during the collapse, although the report does not assert deliberate price manipulation.
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