The crypto market has seen countless meme coins, but the cat-themed project Catslap stands out from the crowd.
The Catslap (SLAP) team has planned a $1 million token burn for today, December 20.
This planned burn comes after the project’s popular “Slap-to-Earn” game reached an enormous milestone: over one billion completed slaps.
Catslap’s $1M Token Burn Aims to Boost Scarcity & Fuel Slap-to-Earn Game
Token burns are a common move in crypto.
They involve removing tokens from circulation to potentially increase their value – almost like a company buying back its own stock.
Catslap’s team is taking this strategy seriously, having already burned over 140 million SLAP tokens worth nearly $480,000.
But today’s $1 million token burn is set to be their biggest yet, dwarfing all previous efforts.
At SLAP’s current price, roughly another 315 million tokens are being destroyed.
And it would bring the total burned to over 450 million SLAP tokens.
Beyond burning, Catslap’s team is also running automated buybacks every 20 minutes, purchasing $445,000 worth of tokens so far.
At the same time, their Slap-to-Earn game has exploded in popularity, with users collectively racking up 1.2 billion slaps.
Japanese users are leading the way, with French and German users locked in a battle for second place.
It seems the race to the top of the global slap leaderboard is getting intense.
Catslap Defies Market Downturn & Eyes Major CEX Listings
The broader crypto market has been taking a beating this week, with Bitcoin dipping below $94,000 and pulling most altcoins down with it.
Meme coins have been hit particularly hard.
Dogecoin, for example, has plummeted 20% in just the last 24 hours alone.
While Catslap hasn’t entirely escaped the market’s bearishness, with SLAP tokens currently trading around $0.00313, the token’s underlying numbers paint a more optimistic picture.
SLAP is still up 2,400% from its launch price.
The token also now has over 20,000 holders globally, $4 million in locked liquidity, and $2.7 million in spot trading volume over the past day.
Most of this trading activity is concentrated on MEXC, a tier-1 CEX where SLAP recently listed.
Meanwhile, Catslap’s Telegram channel is buzzing with talk about potential listings on other major exchanges.
Some community members even believe Binance or Coinbase could pick SLAP up.
There has been no movement on that front yet, but today’s massive token burn shows how determined the team is to climb the crypto ladder.
Catslap Community Thrives as Top Crypto Influencers Join the Hype
Slap-to-Earn is the core of Catslap’s ecosystem – and the stakes are rising as Season 1 nears its January 10 finale.
It’s not just about virtual slapping anymore since there’s a massive $100,000 prize pool for the top 10 players.
Even those who don’t reach the top of the leaderboard will still earn SLAP tokens based on their rankings.
Unsurprisingly, the buzz around this setup is growing.
Even YouTubers like ClayBro, who has over 134,000 subscribers, are talking bullishly about Catslap and its potential.
Adding to the excitement, Catslap’s partnership with Zealy has created a quest system where community engagement translates into in-game power.
Every XP point earned through Zealy tasks, like social media interactions, converts to 1,000 slaps on the “Slapometer.”
With over 11,000 quests completed already, it’s clear the community loves this approach to earning.
The combination of hilarious gameplay, quests, and SLAP rewards is creating an ecosystem that keeps people coming back for more.
That’s why Catslap is a token many are watching in the lead up to 2025.
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