Time to buy $FLOKI
DWF Labs team intends to purchase FLOKI memcoin for $12 million.
This is not the market maker's first investment in this project.
The Floki Inu team has announced the launch of new products — including the Valhalla meta universe.
Market maker DWF Labs is investing $12 million in the purchase of Floki Inu (FLOKI) tokens as part of supporting the project's ecosystem.
According to the statement, part of the tokens will be purchased on the open market, while the rest will come from the project's treasury. The strategic purchase is aimed at further strengthening Floki's position on the crypto market.
The project team first announced a partnership with DWF Labs in May 2023. The release states that the market maker has made a huge contribution to accelerating the adoption of FLOKI by facilitating the listing of the token on exchanges and partnering with key industry players.
"We are happy to support the project and a number of interesting announcements of Floki Inu this year. Congratulations to the team and thank you for their work to ensure the widespread adoption of cryptocurrencies, strengthening their role as a leading player in the crypto space," said DWF Labs.
The Floki Inu team is set to launch a number of new products this year, including the Valhalla meta universe, a trading bot, and the .floki domain name service. DWF Labs' investment will reportedly provide the necessary liquidity and launch for these solutions.
The FLOKI token reacted with moderate growth to the news of the partnership. The asset rose to $0.000273, but then fell to $0.000259 in a moment. At press time, it is trading at $0.000264, according to TradingView
We will remind, in February 2024, the market maker announced the purchase of project tokens for $10 million. Then FLOKI grew by 35% in the last 24 hours.
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