Coin Edition -
- DWF Labs announces investment of $12 million in Floki tokens via the open market and the Floki treasury.
- Previously, a wallet linked to DWF moved $5M USDT to the LADYS meme coin developer’s wallet.
- The TURBO meme coin community anticipates DWF Labs’ involvement.
DWF Labs, a prominent investment firm and market maker, has announced a significant investment of $12 million in Floki tokens. According to a Floki developer known as “B,” this investment will come from both the open market and the Floki treasury.
This investment follows DWF Labs’ previous purchase of $10 million worth of FLOKI tokens in February, which boosted the token’s price by 50%. Notably, the partnership between Floki and DWF Labs began in May 2023 when the firm initially acquired $5 million in FLOKI tokens. Since then, DWF Labs has also committed to a $10 million investment in Floki’s sister project, TokenFi, over the next two years.
Moreover, DWF Labs’ involvement has been instrumental in securing key exchange listings and industry partnerships, significantly enhancing the Floki ecosystem. As a result, the FLOKI token has surged by over 742% since last year.
Meanwhile, DWF Labs is not solely focused on FLOKI. Last week, a wallet linked to the firm received over $500,000 worth of LADYS tokens. Further analysis by Lookonchain revealed another DWF wallet (0x53c) transferred $5 million USDT to the LADYS meme coin developer’s wallet.
These actions align with DWF Labs’ recent announcement about investing in meme coins. On May 28, managing partner Andrei Grachev hinted at this new strategic focus in a post on X. In a statement today, Grachev confirmed the investment in FLOKI and LADYS, noting that the firm is now moving to the third step of its strategy.
Amidst all these, other meme coin communities, such as TURBO, are anticipating DWF Labs’ involvement, hoping to see similar positive gains following FLOKI and LADYS.
As the Floki team prepares for an exciting year with their flagship utility product in development, the fresh capital infusion from DWF Labs is expected to support these initiatives and drive further growth.
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