A crypto trader just got wrecked for about $197,000 after a bad bet on the LAPTOP meme coin. The token, launched by Hunter Biden—the son of former US President Joe Biden—crashed hard, nearly wiping out the trader’s position.

What went down

According to Lookonchain, the trader pulled $250,000 off Binance to ape into LAPTOP right after launch. He threw $200,000 at the coin, but the price tanked almost immediately, leaving his portfolio worth just around $3,000. Lookonchain summed it up with a warning: "Don't FOMO!"

Why it matters

This is a textbook example of the risks that come with FOMO-buying low-cap tokens at launch. Insane volatility can nuke a huge chunk of your stack in minutes. Jumping in blind, without waiting or checking market conditions, often means losses—even for deep-pocketed traders.

This case is a reminder that just because a meme coin is hyped, it doesn’t guarantee lasting demand or price action. For retail traders, the key is disciplined entries and understanding that wild dumps are par for the course in those first trading hours.