- The announcement followed by the previous commitment to buy $10M worth FLOKI.
- FLOKI, the first memecoin to surpass $820M in TVL this year.
Crypto trading firm, DWF Labs has announced plans to purchase $12 million worth FLOKI tokens from the open market and the Floki treasury. This initiative will support the dog meme coin-turned-utility project’s growing ecosystem. This follows their previous commitment of $10 million worth token purchase in February, which caused a 50% price surge.
This investment aims to fuel the growth of Floki’s growing ecosystem, which includes the upcoming release of their flagship metaverse game, Valhalla, along with a trading bot and a domain name service. The purchase signalling their continued confidence in the project.
DWF Labs’ involvement has a proven record of their initial purchase worth $5 million FLOKI tokens in May 2023 and the $10 million commitment to Floki’s sister project, TokenFi, have already demonstrated a positive scenario.
The trading volumes for FLOKI soared significantly. The Floki Inu trades at $0.0002649 with a $2.53 billion market cap and trading volume at $576 million.
Floki Reaches ATH in TVL
The FLOKI project has achieved significance in terms of Total Value Locked (TVL), a metric of decentralized finance (DeFi) projects. FLOKI became the first meme coin to surpass $820 million in TVL earlier this year, marking an achievement of all time high across two of its key ecosystem products, Floki Staking and FlokiFi Locker with $700.24M and $120.13M respectively.
This surge of Floki implies the confidence that the community has in both DWF Labs and the Floki Inu team. As they plan to expand its ecosystem, utility, investments, partnership, the growth for the long run is anticipated by its community.
These purchases could lead to another price surge of FLOKI, and the launch of Valhalla and other utility products could considerably impact the future of the Floki project.
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