The dynamic new cat meme coin Catslap ($SLAP) is attracting Chicago proprietary trading house whales. One firm bought nearly $500,000 of $SLAP, pushing the token price up to $0.0042 today.
Trading volume in the SLAP/ETH pair has leapt back above $1.4 million in the past 24 hours, and there are now more than 10,000 holders of the $SLAP token.
The token holder count is accelerating, having grown by 2,000 since Friday. Total market capitalization is $35.5 million (undiluted is $18 million), and liquidity is riding high at $4.7 million.
Jump Trading clearly thinks the Catslap price is going places and is using the token's plentiful liquidity to enter the market at an attractive low-cap price. At the time of writing, $SLAP is trending in sixth place in DexTools' hot pairs.
$SLAP price is up 31% at $0.0040 in the past 24 hours after the token made steady progress higher over the weekend, and today is further strengthened by strongly bullish whale buys.
Chicago is the home of all the main commodities and derivatives-focused trading firms in the US, many of which are active in the crypto markets.
In total, Jump has made 10 $SLAP purchases totaling approximately $489,690 and no sales. The first buys were on November 23, two days after the token was listed.
The large purchases made earlier today (52 and 49.92 ETH) indicate that Jump is building up a substantial position, so these are not โpump and dump' flash-in-the-pan trades. Jump Trading's average entry price is $0.0038.
Is a Tier 1 exchange about to list Catslap ($SLAP)?
The whale news comes two days before a Catslap โmajor announcement,' which will reveal the name of the centralized exchange(s) that will list the coin.
Could it be that Jump Trading has an inside track on information regarding the CEX listing and is taking a position accordingly in preparation for a skyrocketing price?
Catslap continues to trend on Tier 1 exchange Crypto.com โ could it be the CEX in question, or maybe it is Binance or OKX?
Slap-to-Earn, burning, buybacks, staking โ there's a lot going on with Catslap
Catslap has released a torrent of product releases involving the initiation of a substantial burn program, advanced news of forthcoming Slap-to-Earn features, and the launch of a buyback dashboard detailing the team’s purchases in the open market to support the $SLAP price.
The last burn saw 25 million tokens removed from circulation valued at $102,341. Altogether $158,107 worth of tokens have been burned, with the previous burn milestone of 10 million $SLAP worth $40,936.
Including the burns from users ending their stakes early. Total $SLAP burned is 38,622,538. The next burn milestone will be when the Slapometer reaches 100,000,000 โ when a colossal 100 million $SLAP tokens (worth more than $350,000 at the time of writing) will be thrown into the fire. Currently, the slap count stands at 69.3 million.
In addition to the burning, the buyback program is purchasing $SLAP worth 0.13623 ETH every 20 minutes. The total buyback was $190,361 earlier today, equating to 46.3 million $SLAP bought. These buybacks are being used for burning and future community rewards.
Only 11 days old, Catslap has already made a name for itself with its hilarious take on the slapping cat, which is growing in popularity.
Simply connect the wallet that holds your $SLAP in order to take part in Slap-to-Earn โ now when you click to slap, the slaps go towards your individual total for which you earn rewards. Users can slap without connecting their wallet and also click to slap but will earn no rewards.
However, all slaps go towards the global total, which is then subdivided by country and ranked. At the moment the leading slapping countries are Japan, Malaysia, France, Turkey and Germany. The top individual user has 3 million slaps to their name โ if they were a country they would be in eighth place.
What will the prizes be for those who top these leaderboards? Judging by Catslap's rapid rollout of valuable new features and the buybacks already stacking up, they can only be significant. By economically incentivizing users to stay engaged with the project, Catslap is truly the $SLAP that keeps on slapping:
The $SLAP that keeps on slapping
— CatSlap (@CatSlapToken) December 2, 2024
Over 61 million slaps worldwide – Earn $SLAP points and climb the global leaderboard with Slap-2-Earn! https://t.co/yKMt8Y5DM39.94k+ Hodlers
+2,497% Increase since launch
$13.62M Market Cap
$146k+ Total bought back$SLAPโฆ pic.twitter.com/hW7qJQombV
When Jump trading is buying you probably should be too โ here's how you could bag 600x returns
Jump Trading is buying a lot of $SLAP so maybe you should too. Popcat made returns of more than 600x for its early buyers. A $500 purchase of $SLAP today could be worth $300,000 if Catslap matches Popcat's return on investment.
Chances are though, that with a much better clicker game and the strong utility built around it, Catslap will outperform Popcat because it is a far better value proposition.
You can buy and stake $SLAP using Web3 crypto wallet Best Wallet. Go to the โUpcoming Tokens' section to make your purchase using ETH, USDT or card.
Staking $SLAP tokens earns a 40%-a-year return on your deposit. The minimum stake period is seven days. All stakes are locked for seven days, but you can unlock your tokens early by burning some of your staked balance.
More than 100,000 users have installed Best Wallet, gifting Catslap a ready-made crypto-savvy audience. You can download Best Wallet here: Google Play or Apple App Store.
Buyers can also purchase Catslap tokens by visiting the Catslap homepage (beware of fraudulent websites), where there is an exchange widget.
The $SLAP smart contract has been audited by SolidProof and no issues were found.
When Jump Trading starts building a position in a meme coin, it is well past time to stand up and take notice. If you don’t already have skin in the game, it is probably time to join the whale pros by diving in.
Visit Catslap Token website or Best Wallet to buy $SLAP
The post Jump Trading Firm Wallet Buys $500,000 of New Cat Meme Coin Catslap, CEX Listing News in 2 Days appeared first on Cryptonews.
ยฉ 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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