TLDR
- DWF Labs, a leading crypto trading firm, announced plans to purchase $12 million worth of Floki (FLOKI) tokens from the open market and the Floki Project Treasury.
- Floki is preparing to launch several new products, including the Valhalla metaverse game on its mainnet, a Floki trading bot, and a .floki domain name service.
- This purchase by DWF Labs aims to support the growth of Floki’s expanding ecosystem and provide liquidity for its upcoming ventures.
- The partnership between Floki and DWF Labs began in May 2023 when the firm acquired $5 million worth of FLOKI tokens and helped secure key exchange listings and partnerships.
- Floki recently became the first meme coin to surpass $820 million in Total Value Locked (TVL), aided by a $15 billion token burn that contributed to a 40.74% price surge in May 2024.
Floki (FLOKI), the dog-themed meme coin that has evolved into a utility project, is set to receive a significant boost from DWF Labs, a leading crypto trading firm.
DWF Labs has announced plans to purchase $12 million worth of FLOKI tokens from both the open market and the Floki Project Treasury.
This move is aimed at supporting the growth of Floki’s expanding ecosystem and providing the necessary liquidity for its upcoming ventures.
The partnership between Floki and DWF Labs began in May 2023 when the trading firm acquired $5 million worth of FLOKI tokens.
Thrilled to announce our continuing support for @RealFlokiInu 🔥
We're excited to support their team in several exciting launches this year: the mainnet version of Valhalla, a metaverse game, as well as several key utility projects.
Congratulations to their team for all their… https://t.co/FeR0OQTfog
— DWF Labs (@DWFLabs) June 4, 2024
Since then, DWF Labs has played a crucial role in securing key exchange listings and partnerships, helping to boost sentiment around the Floki ecosystem.
In February of this year, DWF Labs further solidified its commitment to Floki by announcing plans to buy $10 million worth of FLOKI tokens in Floki’s sister project, TokenFi, over the next two years.
This investment was intended to support the development of a suite of artificial intelligence (AI) products, a move that led to a 50% surge in FLOKI’s price in the following week.
Floki’s development team is gearing up to introduce several new products in the coming months, and DWF Labs’ substantial purchases will help support the growth of these ventures.
One of the most anticipated releases is the mainnet version of Floki’s flagship utility product, the Valhalla metaverse game, which is expected to launch later this year.
In addition to the Valhalla metaverse game, Floki will also launch a Floki trading bot and a .floki domain name service in the coming weeks.
These new products are expected to further expand Floki’s utility and appeal, catering to a wider range of users and use cases.
Floki’s success is not only evident in its recent price performance but also in its impressive achievements in Total Value Locked (TVL).
This year, Floki became the first meme coin to surpass $820 million in TVL, marking a significant milestone for the project.
This accomplishment was partly aided by a massive $15 billion token burn that was carried out on-chain in the past month, propelling FLOKI to hit a monthly high of $0.0003119 on May 28, 2024, surging it by about 40.74%.
The price of FLOKI has increased by 14.40% in the last few days, settling at $0.00028 as of June 4, 2024.
This rise is currently higher than its competitors, including Shiba Inu (SHIB), PEPE, and Dogwifhat (WIF), which have seen increases of up to 0.53%, 3.10%, and 5.79%, respectively, during the same period.
