TLDR
- FLOKI has seen significant gains in the last 24 hours, leading the meme coin resurgence amid wider crypto market inflows.
- DWF Labs announced plans to purchase $12 million worth of FLOKI tokens from the open market and Floki Project Treasury, following a previous $5 million investment in May 2023.
- Floki is preparing to launch new products, such as the Valhalla metaverse game and the Floki trading bot, and recently became the first meme coin to surpass $820 million in Total Value Locked (TVL).
- The FLOKI token has seen a 14.40% price increase in recent days, outperforming competitors like Shiba Inu (SHIB), PEPE, and Dogwifhat (WIF).
The world of meme coins has been abuzz with activity in recent days, and leading the charge is FLOKI, which has experienced impressive price increases and attracted substantial investment from a major crypto trading firm.
Over the past 24 hours, the wider crypto market has recorded inflows, with top assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) all posting gains. This positive sentiment has also extended to the meme coin sector, with FLOKI emerging as a standout performer.
FLOKI has recorded a 12.8% gain, wiping out a portion of its weekly losses. The token’s monthly flows have moved upward by 43.2%, contributing to an impressive 744% year-to-date growth. This surge has placed FLOKI among the leading meme coins, with its market capitalization spiking to $2.6 billion and daily trading volumes soaring above $613 million.
Adding to the excitement surrounding FLOKI is the recent announcement by DWF Labs, a leading crypto trading firm, of its plans to purchase $12 million worth of FLOKI tokens from both the open market and the Floki treasury. This move comes on the heels of a previous $5 million investment made by DWF Labs in May 2023, highlighting the firm’s confidence in the Floki ecosystem.
DWF LABS TO PURCHASE $12,000,000 IN FLOKI TOKENS TO SUPPORT THE FLOKI ECOSYSTEM
As a testament to its unwavering support for the #Floki Ecosystem, DWF Labs will purchase $12,000,000 in $FLOKI tokens. A portion of the tokens will be acquired from the market, and the rest will be… pic.twitter.com/z2kHiUgAdc
— FLOKI (@RealFlokiInu) June 4, 2024
The partnership between Floki and DWF Labs has already proven fruitful, with the trading firm playing a key role in securing exchange listings and partnerships for the project.
In February, DWF Labs committed to buying $10 million worth of FLOKI tokens in Floki’s sister project, TokenFi, to support the development of artificial intelligence (AI) products.
Floki’s success extends beyond its recent price performance, as the project has also achieved a significant milestone in Total Value Locked (TVL). This year, Floki became the first meme coin to surpass $820 million in TVL, showcasing its growing popularity and adoption.
FLOKI REACHES ECOSYSTEM TVL OF $820 MILLION — AN ALL TIME HIGH#Floki just hit a total value locked (TVL) all time high of $820 million across two of its key ecosystem products:
– Floki Staking: $700.24M+
– FlokiFi Locker: $120.13M+This impressive TVL record, which is the… pic.twitter.com/pbclsHZ0ed
— FLOKI (@RealFlokiInu) May 28, 2024
Looking ahead, Floki is gearing up to launch several new products, including the mainnet version of its flagship utility product, the Valhalla metaverse game, later this year.
The project will also introduce the Floki trading bot and the .floki domain name service in the coming weeks.
These developments, coupled with DWF Labs’ substantial investment, are expected to support the growth of the Floki ecosystem and provide the necessary liquidity.
Despite recent market fluctuations, which have seen the price of FLOKI decline by 6.73% in the last 24 hours and 3.27% over the past week, analysts remain optimistic about the token’s future prospects. Some predict a potential price increase for FLOKI, with the token potentially reaching $0.00054673.
