Popcat, Mog Coin rival Catslap burns $1M SLAP tokens; potential price surge ahead

Catslap prepares for $1M token burn today, boosting price and excitement around slap-to-earn and Zealy quests.

The buzz surrounding Catslap (SLAP) continues to grow as the team gears up for the next big event in the projects history: a $1 million token burn scheduled for today.

This strategic move aims to bolster the tokens price as the community continues to engage in the innovative Slap-to-Earn and Zealy quests airdrop campaigns.

Catslaps team announced this monumental token burn via a post on X yesterday, solidifying their commitment to driving value for SLAP holders.

They also revealed the end date for the first slap-to-earn season, which will draw to a close on January 10th next year. The top 10 slappers will earn a slice of a $100k USDT prize pool, which has prompted a new flurry of slapping activity.

$1 million Catslap token burn and its impact

So far, 140 million SLAP tokens, valued at $456,500, have been removed from circulation based on the burn dashboard. After todays additional $1 million burn, the total burn amount will be close to $1.5 million, significantly reducing token supply and setting the stage for a potential price rally.

Adding to this effort is Catslaps ongoing buyback program, which executes token buybacks every 20 minutes. To date, the program has removed 124 million SLAP tokens from circulation.

The combined effect of the token burn and buybacks caused a 7.5% uptick in the SLAP price yesterday defying the current market trend.

However, the price has dropped slightly again alongside other top cryptos. This is on-trend for both the market conditions and token burns which often have a more long-term price impact.

Normally, it takes a while for the true effect of the new scarcity to be felt, and we could see a strong SLAP price rally in the coming weeks after the broader market readjusts.

Engagement soars through slap-to-earn and Zealy quests

Catslaps community engagement has been a key driver of its success. The slap-to-earn season 1 campaign, set to end on January 10, 2025, has attracted headline-worthy levels of participation.

The Slapometer has recorded a staggering 1.239 billion slaps, thanks to a combination of on-site slapping activities and the Zealy Community Slapdrop Campaign.

Participants in the Slapdrop campaign can climb leaderboards for a chance to win a share of the $100,000 prize pool. Beyond the top 10 leaderboard positions, all eligible participants will receive SLAP tokens based on their ranking.

The Zealy leaderboard alone has over 500 community members taking part. The integration of on-site slapping with Zealys quest-tracking platform introduces a unique XP-to-SLAP exchange rate: 1 XP earned on Zealy equates to 1,000 slaps on the website.

To participate, users must first hold SLAP tokens and complete the “Best Wallet Address” quest on Zealy. Then, theres a range of quests available to earn thousands of slaps and boost your placement on the leaderboard.

Verification processes for wallet addresses submitted through Zealy may take some time, as announced in a Telegram update.

Catslaps community and influencer backing

The Catslap community has grown rapidly, with over 20,000 non-custodial wallet holders and $3.8 million in token liquidity — 54% of which is locked for six months.

Influencers like YouTuber ClayBro, who boasts a following of 134,000, have expressed optimism about the tokens price trajectory, further fueling anticipation.

On CoinMarketCap, the community sentiment is overwhelmingly positive, with 93% of voters bullish about Catslap.

For those looking to join the Catslap frenzy, SLAP tokens are available to buy on MEXC, KCEX, Best Wallet, the Catslap websites exchange widget, and Uniswap DEX.

The project has been audited by SolidProof and boasts a 99/99 reliability score on DEXtools.

Whats next for Catslap？

As the token burn begins, excitement within the Catslap ecosystem is building. Todays burn could mark a turning point for SLAP holders, offering a unique opportunity to capitalize on potential price momentum in the coming days.

With season 1 of slap-to-earn and Zealy quests in full swing and the leaderboard competition heating up, we could see even higher levels of engagement as the community vies for the top spot.