LAPTOP, a memecoin tied to the Hunter Biden laptop theme, fell more than 99% in its first week after briefly reaching a market cap near $50 billion.

Data from NS3.AI indicates the token entered the Base network around $37 and spiked to about $401 within minutes before collapsing.

On-chain analytics pointed to insider distribution as the main cause of the decline, rather than typical selling activity. The sharp reversal followed the rapid early run-up.