XRP traders have been taking profits. Among the beneficiaries is the top trending new cat-themed meme coin Catslap ($SLAP), which is expected to announce its first centralized exchange (CEX) listing tomorrow, Thursday December 5.
XRP has fallen back from $2.86 to $2.46 after a stellar pump, while $SLAP has been making new all-time highs after the introduction of new utility features and anticipation about the CEX listing.
A banner ad in the Web3 crypto wallet Best Wallet, where the token has been on sale since launch, confirmed that a CEX listing would be the announcement’s subject.
According to CoinGecko, Catslap ($SLAP) is the top trending coin in the US at No.3, beaten only by XRP and Bitcoin. The $SLAP token is fifth in the UK. Catslap has also taken residence in the top rankings on DEXtools’ hot pairs.
The surge in Catslap popularity comes as the extraordinary climb in the XRP price succumbs to a temporary bout of profit-taking, before continuing its march higher.
Catslap price blasts 272% higher in the past 7 days
$SLAP’s price is up 7,556% since it launched 13 days ago, and there is plenty more upside ahead, given the project’s value-added benefits for token holders. Over the past seven days the $SLAP price has gone up 272%.
To give some idea of Catslap’s potential, rival cat meme coin Popcat has been up 282,679% since its launch on Solana (Catslap is on the Ethereum chain). $100 invested in Popcat when it was listed on Raydium would be worth $282,679 today.
Catslap has a utility offering that Popcat lacks, so just imagine where its price could go. It is no exaggeration to say that life-changing returns could be made because it is still early days for $SLAP.
A broader dip across the crypto market took hold earlier this week, but Catslap continued to move sharply higher in that time. The rotation out of XRP is not a singular story but rather an indication that altcoin season is upon us.
Bitcoin market dominance has slipped to 53.4%, the lowest level since June 2024. While BTC dominance is down 7.06%, all other coins (excluding ETH) are up 7.68%, of which meme coins like Catslap make up a significant part.
Having said that, Catslap has also seen traders booking profits. At around 4am UTC $SLAP printed a psychologically significant new all-time high at $0.010, which triggered a number of whales to partially exit the market. After this healthy correction following such a steep pump, the $SLAP price has resumed its climb higher, currently priced at $0.0080.
$SLAP centralized exchange listing likely to be the first of many
Catslap token traded at $0.0080 at the time of writing, with only 24 hours to go before the project announces the name of the first centralized exchange to list $SLAP.
Although a Tier 1 exchange listing is probably not in the frame just yet for a token trading below a market capitalization of $100 million, whichever exchange the token hits will bring a flood of new buyers into the market.
Trading on decentralized exchanges requires a certain level of knowledge and experience that can be intimidating for those new to crypto, hence the appeal of CEXs.
Depending on the exact timing of tomorrow’s announcement, trading might start this side of the weekend or perhaps next Monday.
All will be revealed tomorrow, Thursday December 5, and given the FOMO surrounding the feline Slap-to-Earn sensation, a break through the previous ATH is likely in the coming hours.
The drawdown in the $SLAP price is already encouraging new entrants, thereby strengthening the next attack on $0.010. The unmatched utility of the meme coin and its solid market positioning has spurred some bullish confidence.
At the time of writing approximately users have staked $3 million worth of $SLAP (357 million tokens) in a testament to the project’s strength and commitment of its community.
In addition to staking-initiated burns, the team also burns a substantial number of tokens when the project reaches certain milestones on the Slapometer. The Slapometer had clocked up 151 million slaps as of 3pm UTC today.
Catslap’s $SLAP burns: a price driver
So far, about $1 million worth of $SLAP has been burned (139 million tokens), which supports the price by increasing the coin’s scarcity. The burn milestones are smashing all expectations, as the newly launched Slap-to-Earn mechanism incentivizes even more users to slap.
The most recent big milestone burn took place yesterday when the Slapometer reached 100 million and the network burned the same number of $SLAP tokens, valued at $769k.
Supplementing the burns is the buyback program. To date, the project has bought 57 million $SLAP tokens in the open market, valued at $459,000, further bolstering confidence and stability. The buybacks take place every 20 minutes.
The latest market metrics are impressive too. $SLAP token holder numbers have smashed through 12,000 – a 1,000-plus advance on yesterday.
Despite the temporary price pullback, $SLAP is still up 30% in the last 24 hours and chalking up a 245% rise over the past seven days.
Reflecting the bullish price action, the SLAP/ETH liquidity pool has swollen to $6.8 million, providing plenty of headroom for more meteoric price breakouts.
The Catslap community is expanding rapidly. There are now 3,194 group members on Telegram and 10,800 followers of its X account.
Where to buy Catslap ($SLAP) for 40% staking returns
As part of a partnership deal with Best Wallet, you can buy and stake the $SLAP token there – just head to the ‘Upcoming Tokens’ section, which is fast becoming a prime spot for finding low-cap crypto gems.
Staking $SLAP tokens will earn you a 40% return providing you deposit for 12 months. However, you can stake for shorter periods, with the minimum being seven days. Stakers can unlock their tokens early by burning some of their staked balance.
To purchase $SLAP token you will need ETH or USDT, but you can also use a card. Download Best Wallet from your preferred app store: Google Play or Apple App Store.
Alternatively, you can buy directly from the Catslap homepage or on a decentralized exchange such as Uniswap, but using the latter option means missing out on staking.
A word of warning: there are fake versions of the Catslap website, so make sure to click through from the project’s social links and always check you are visiting the correct url, which is https://catslaptoken.com/. Catslap token runs on the Ethereum chain – all other versions are scams.
Buyers will be glad to know that SolidProof audited Catslap, has a 99% project reliability score on DEXtools, and developers have locked 53% of its $6.8 million liquidity on-chain for one month – it means there’s no risk of a rug pull.
Catslap is ready to pounce on the Popcats and Pepes of the crypto world in its quest for meme coin domination. This cat could have you purring all the way to the bank.
Check Out Catslap HereThe post XRP Traders Rotate Profits Into Trending Meme Coin Catslap, $SLAP Price up 272% in 7 Days, CEX Listing Imminent appeared first on Cryptonews.
