Catslap ($SLAP) Burns $1M Worth of Tokens, Promises to Lead the Meme Coin Sector

Catslap ($SLAP) has burned $1 million $SLAP tokens today, slashing supply in a move that turbocharges upward price momentum for the viral Slap-to-Earn meme coin.

Catslap ($SLAP) has burned $1 million in tokens today, reducing the circulating supply and boosting the upward price momentum for the viral Slap-to-Earn meme coin.

Including previous burns, a total of 1,196,558,367.83 $SLAP tokens have been taken out of circulation so far, valued at over $1.5 million.

Token burns are done in the interests of all token holders, because by reducing supply for a high-demand token, you increase scarcity, one of the largest determiners of value in commodities in general.

It's done. We just burnt $1,000,000 of $SLAPhttps://t.co/grFgQzV4ej pic.twitter.com/iMG1HkF0Ri

Catslap’s Slapdrop: Everything You Need To Know

The gigantic burn follows the recent Slapdrop contests, where the top 10 slappers on the Slap-to-Earn leaderboard won a share of a $100,000 prize pool.

The Catslap project offers multiple avenues to collect rewards. Catslap players who completed Zealy social challenges and submitted their Best Wallet rewards wallet began collecting $SLAP rewards on 16 January.

$SLAP rewards are subject to a 90-day linear vesting schedule to prevent excessive selling pressure, as we’ve seen before in several other high-profile meme coin releases, like the play-to-earn Hamster Kombat.

Now that $1 million worth of $SLAP has been removed from circulation, the Slapdrop has officially concluded.

Currently, investors have staked well over half a billion $SLAP tokens. Holders have a 14-day window to withdraw their staked tokens and any accrued rewards. After this period, any unclaimed rewards will be permanently burned. However, it is important to note that the principal staked amounts will not be affected by the burn.

Any unclaimed staking rewards, along with any remaining team-controlled tokens that are not tied to vesting contracts, will be burned on February 14. You can view a countdown to the final megaburn on the Catslap website. The vesting wallets associated with these tokens are transparently listed on the official website (catslaptoken.com/en/slap-drop).

As with the last token burn events, the upcoming burn does not impact SLAP drop rewards, which will continue to vest over a 90-day period.

Catslap Set To Lead The Meme Coin Sector, Flip MEOW, MOG, POPCAT

Additionally, the Catslap team has been executing a buyback initiative, purchasing $533,281 worth of tokens (equivalent to over 348 million $SLAP) on the open market to further support the asset’s price.

On 4 December 2024, $SLAP reached an all-time high of $0.009478, marking an 8,516% return for early presale investors.

And there are some exciting price catalysts still to come. Firstly, the whole industry will benefit from a comprehensive US crypto policy, which the pro-crypto Trump administration is expected to deliver within the next six months.

The Catslap presale launched in November 2024 at an initial price of $0.00011, which today has blown up to $0.0014 as of this writing according to CoinGecko, which gives early investors remarkable 1173% returns.

Additionally, the economic effects of Bitcoin’s supply halving last year is likely to work in tandem with the US’s pro-crypto outlook to trigger the start of a bull run that will pull up every reputable altcoin. Catslap is likely to lead the meme coin sector and flip feline stalwarts like MEOW, MOG, Popcat, and Simon’s Cat.

Crypto auditing firm SolidProof checked the Catslap smart contract and found no critical issues, giving investors peace of mind that the project is credible and secure.

Buy $SLAP via Web3’s most innovative new wallet Best Wallet, which you can download from Google Play or the Apple App Store.

Join the Catslap community on X and Telegram and stand ready for the bounce. Forget about a “dead cat bounce” – this cat coin is alive to the altcoin opportunities ahead.

Visit Catslap Token website