Catslap (SLAP) is one of the newest additions to the $3.8 billion cat-themed token space, and it has recorded some impressive gains since its launch on November 21st.
Although it fluctuated to its current price of $0.003182 after a soar of over 5,000% brought it to its ATH of $0.006779, SLAP is now attracting increasing attention with new features.
The project featured an addicting minigame that sees its cat mascot slap the image of Pepe each time players click on it since its inception, and its developers are now expanding on the game to incentivize participation and reward SLAP holders.
Let’s take a look at what sets SLAP apart from competition like Popcat (POPCAT) and what its future developments may entail.
Catslap Rolls Out Community-Driven Token Burn Mechanics
Catslap has been tracking the number of times its users slapped Pepe’s mascot on its website since its inception, and that number now stands at 64 million after growing by 50 million since November 29th.
Besides tracking the slaps, the website also featured a leaderboard that displays the countries where most slaps originated since its launch. Japan takes the first spot on the leaderboard with 11.5 million slaps, with users from Morocco, France, Turkey, and Germany following close.
Following Catslap’s early success, its developers added a new incentive for SLAP holders to participate with the introduction of the burn dashboard. The token-burning feature sees an increasing amount of SLAP removed from the circulating supply each time a milestone is met.
Valued at $126,047, 38 million SLAP tokens have been burned so far after two massive burns followed the 10 and 25 million milestones on the website’s Slapometer. The burns are documented on the burn dashboard, complete with a link to Etherscan that displays the transaction, such as the latest 916,264 SLAP burn.
According to Catslap’s website, the next mass burn will occur once the Slapometer surpasses 100 million slaps, which could translate to another 100 million SLAP burned.
SLAP Rewards Its Fast-Growing Community With Slap-To-Earn and Buyback Features
The series of features released by the Catslap developer team include slap-to-earn rewards and buyback, and they synergize perfectly with the existing Slapometer and burn dashboard.
Users can now connect their wallets to the Catslap website and have their address displayed on the user leaderboard, which joined the country leaderboard in counting the most slaps.
The gamified rewards model offers tangible crypto rewards to those playing the game while holding SLAP, and the website mentions that further announcements related to the project’s unique rewards system will follow.
Additionally, SLAP’s developers released the “Buy Back Dashboard,” which shares the aesthetics and functionality of the burn dashboard with its links to Etherscan transactions.
The buyback dashboard shows that the team behind Catslap already spent over $148,767 for the acquisition of over 44.8 million SLAP, a move they say will help the token “slap away another 0.”
The team swaps 0.13623 ETH for its equivalent in SLAP every 20 minutes, which translates to around $492 worth of SLAP, according to the latest entry on Etherscan.
SLAP’s New Features and a Massive $4.2 Million Liquidity Praised By Experts
Introduced around November 26th, when Catslap’s price stood at $0.002158, the introduction of new features helped SLAP soar by 47% to its current $0.003182. The token’s holder count has increased by around 3,000 since then, with 9,974 investors holding SLAP currently.
Additionally, Catslap is bolstering investor trust with its liquidity on DEXs, reported at $4.2 million, offering strong assurance against potential rug pulls.
The locked liquidity and the rapid growth of the token’s channels on X (Twitter) and Telegram, which are now followed by more than 11,000 users, reflect increasing confidence in the market.
Meme coin expert Cilinix Crypto, who has more than 79,400 followers on YouTube, sees the project’s large liquidity cap and recent dip as perfect opportunities for investment.
Exploring the token’s new features, he shows excitement for the “major announcement” that Catslap is scheduled to reveal in just three days. He advises his audience to add SLAP to their portfolios ahead of the announcement, as he expects SLAP to explode soon.
Catslap’s Staking Feature Rewards Holders With Passive Earnings and Additional Token Burns
Besides SLAP’s gamified reward system, buybacks, and milestone-based token burns, the project lets investors stake their SLAP to earn a 40% staking APY.
To start earning passively, interested parties can stake their tokens via Catslap’s website by locking them for seven days. Locking SLAP will gradually unlock them over the week, allowing investors to unstake their tokens at any time. However, any amount that’s left locked will be added to the pool of burned SLAP.
As the timer for Catslap’s upcoming major announcement gets closer to the finish line, it’s no wonder investors have already staked more than 341 million SLAP, anticipating a new soar.
The FOMO is building up, which is demonstrated by the massive buying activity in the past six hours. The token’s volume of 106,000 in this period has seen an 81,000 buy volume and just 25,000 selling volume, indicating short-term trust from investors.
How to Start Accumulating SLAP
Catslap’s early success can largely be attributed to its exposure to Best Wallet’s 100,000+ users since day one. Best Wallet, the fastest-growing Web3 crypto wallet, has listed Catslap in its “Upcoming Tokens” tab, which made it easy to purchase.
Investors can still find Catslap in the Best Wallet app, which they can download from the Google Play Store or the Apple App Store. Alternatively, it can be bought from the Catslap website, which accepts payments in ETH, USDT, or via credit and debit cards.
Besides the token’s large liquidity pool, traders can rest easy knowing the project’s smart contract passed an audit by SolidProof, which found no critical threats to investor funds.
If Catslap maintains the momentum it has gained since rolling out new rewarding features, it could see sustained growth moving forward, leaving investors with limited time to add it to their portfolio at its current price of $0.003182.