The crypto market has seen countless meme coins, but the cat-themed project Catslap stands out from the crowd.

The Catslap (SLAP) team has planned a $1 million token burn for today, December 20.

This planned burn comes after the project’s popular “Slap-to-Earn” game reached an enormous milestone: over one billion completed slaps.

Catslap’s $1M Token Burn Aims to Boost Scarcity & Fuel Slap-to-Earn Game

Token burns are a common move in crypto.

They involve removing tokens from circulation to potentially increase their value – almost like a company buying back its own stock.

Catslap’s team is taking this strategy seriously, having already burned over 140 million SLAP tokens worth nearly $480,000.

But today’s $1 million token burn is set to be their biggest yet, dwarfing all previous efforts.

At SLAP’s current price, roughly another 315 million tokens are being destroyed.

And it would bring the total burned to over 450 million SLAP tokens.

Beyond burning, Catslap’s team is also running automated buybacks every 20 minutes, purchasing $445,000 worth of tokens so far.

At the same time, their Slap-to-Earn game has exploded in popularity, with users collectively racking up 1.2 billion slaps.

Japanese users are leading the way, with French and German users locked in a battle for second place.

It seems the race to the top of the global slap leaderboard is getting intense.

Catslap Defies Market Downturn & Eyes Major CEX Listings

The broader crypto market has been taking a beating this week, with Bitcoin dipping below $94,000 and pulling most altcoins down with it.

Meme coins have been hit particularly hard.

Dogecoin, for example, has