Jump Trading Snaps Up $500K Worth of SLAP Tokens, Sparking Coinbase Listing Rumors

New meme coin Catslap (SLAP) surged over 85% in the last 24 hours after a whale bought almost $500K worth of tokens

A recent whale purchase of almost $500K in Catslap (SLAP) tokens has sparked speculation that the meme coin may be preparing for a listing on a major exchange like Coinbase or Binance.

The large purchase of SLAP tokens from a wallet belonging to Jump Trading, a proprietary trading house based in Chicago, came after the meme coin's developer teased a "major announcement" within the next 48 hours.

This has led to speculation that the whale investor may be positioning to capitalize on potential upside should the token be listed on a major exchange.

Both Pepe (PEPE) and Dogwifhat (WIF) have seen strong gains in the month after Coinbase announced they would be listed on its platform. PEPE has risen 148%, while WIF has surged 55%.

SLAP is currently ranked 4th among top gainers for the day by CoinGecko and is trending 6th in DexTools' hot pairs.

Jump Trading Snaps Up SLAP Tokens

In total, Jump Trading has made 10 purchases of SLAP tokens, valued at approximately $489,690 collectively.

The firm's first purchase was executed on Nov. 23, just 2 days after the crypto was listed on a decentralized exchange (DEX). Jump Trading has not sold any of its SLAP holdings since.

The trading firm's latest purchases were made on Dec. 2, with Jump Trading spending 52 ETH and 49.92 ETH to acquire additional tokens.

Catslap Launches Slap-To-Earn Functionality – Next Hamster Kombat?

Catslap went viral following the launch of the project’s slapping game, which quickly became a global hit. Already more than 93.4 million slaps have been unleashed by players of the game.

This popularity contributed to the meme coin’s remarkable price performance in the last 2 weeks, allowing Catslap to reach a fully diluted market cap of almost $50 million.

SLAP has also attracted investors from across the globe, with SLAP currently boasting more than 10.65K holders. Additionally, the young meme coin’s average daily trading volumes stands in the millions of dollars.

Recently, the Catslap team announced the launch of a play-to-earn functionality within its popular game. Players will subsequently be able to earn from every slap performed in-game.

With this new feature, investors speculate that Catslap could follow in the footsteps of the popular Telegram clicker game Hamster Kombat.

The $SLAP that keeps on slapping 🔥

Over 61 million slaps worldwide – Earn $SLAP points and climb the global leaderboard with Slap-2-Earn! https://t.co/yKMt8Y5DM3

😺 9.94k+ Hodlers😻 +2,497% Increase since launch😼 $13.62M Market Cap😸 $146k+ Total bought back$SLAP… pic.twitter.com/hW7qJQombV

— CatSlap (@CatSlapToken) December 2, 2024

The game has seen immense popularity and several top crypto exchanges are now considering listing WIF tokens.

Should Catslap follow suit and be listed on major exchanges, it could lead to significant price appreciation, to the benefit of early investors.

However, it's important to note that meme coins are highly volatile and carry a substantial risk of loss. Investors should always conduct thorough research and exercise caution before making any investment decisions.