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DWF Labs Commits to Purchase Additional $12 Million Worth of Floki Tokens

2 mins
Updated by Harsh Notariya
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In Brief

  • DWF Labs invests another $12 million in Floki tokens. This strengthens Floki's position as it develops utility-focused products.
  • Floki price dips despite DWF Labs' commitment. The investment aims to propel Floki before its highly anticipated Valhalla launch.
  • DWF Labs' partnership with Floki began in May 2023 and has helped boost Floki's market presence through industry connections.
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DWF Labs has committed a substantial $12 million investment in FLOKI tokens, signaling strong support for the Floki Ecosystem.

This investment by the crypto market maker marks a significant milestone for the project.

Why DWF Labs Supports Floki Ecosystem

DWF Labs will split the purchase between tokens bought from the open market and those acquired directly from the Floki treasury.

“This strategic purchase is aimed at further strengthening Floki’s position in the industry, especially in what is poised to be one of Floki’s most pivotal years ever due to the impending release of several key products,” Floki said.

Previously known as Floki Inu, Floki has rebranded and is now intensifying its focus on projects focusing on use cases. Among the most awaited releases this year is the mainnet launch of the Valhalla metaverse game, Floki’s flagship utility product.

Additionally, Floki plans to unveil various other utility offerings. These include the Floki trading bot and the Floki decentralized domain name and website service, which are expected to enhance its functionality and integration across diverse platforms. Despite the DWF Labs investment announcement, the price of Floki is still down by 5.31% in the past 24 hours.

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Floki Price Performance
Floki Price Performance. Source: BeInCrypto

This latest financial commitment from DWF Labs follows a previous $10 million investment in February 2024 and a $5 million investment in May 2023. These prior contributions have significantly elevated Floki’s market presence and facilitated broader adoption.

The partnership between DWF Labs and Floki was initiated in May 2023. Since then, they have successfully enhanced the token’s visibility through strategic exchange listings and key industry partnerships. The crypto market maker’s continued support has been crucial in promoting Floki’s milestones and accomplishments.

Beyond Floki, DWF Labs is also expanding its footprint in the meme coin market. On June 3, Milady Meme Coin (LADYS) announced a $5 million investment from DWF Labs. This marks a crucial moment for LADYS, setting the stage for accelerated growth and innovation within the crypto sector.

With DWF Labs’ capital infusion, LADYS aims to lead the next wave of innovation in the meme coin space. This collaboration is expected to open new avenues for development, collaboration, and community engagement within the LADYS ecosystem.

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Harsh Notariya
Harsh Notariya is a journalist at BeInCrypto, who writes about various topics, including decentralized physical infrastructure networks (DePIN), tokenization, crypto airdrops, decentralized finance (DeFi), meme coins, and altcoins. Before joining BeInCrypto, he was a community consultant at Totality Corp, specializing in the metaverse and non-fungible tokens (NFTs). Additionally, Harsh was a blockchain content writer and researcher at Financial Funda, where he created educational reports on...
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