Dogecoin (DOGE) rival Floki (FLOKI) is soaring as crypto investment firm DWF Labs commits to a new massive purchase of the memecoin.
DWF Labs tells its 85,800 followers on the social media platform X that Floki’s ecosystem advancements are cementing the project’s position in the digital assets sector.
“Thrilled to announce our continuing support for Floki. 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 work in driving widespread crypto adoption and solidifying their role as a top player in the crypto space.”
According to a new Floki blog post, the support from DWF Labs is a commitment by the investment firm to purchase $12 million worth of Floki tokens.
“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 from the Floki treasury.”
The project says that the new commitment is in addition to DWF Labs’ commitment in February to buy $10 million worth of FLOKI tokens.
Floki soared more than 30% amid the DWF Lab news, reaching a new all-time high of $0.00034. Floki has since retraced and is trading for $0.00030 at time of writing.
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