In a noteworthy advancement for the Floki Inu memecoin, DWF Labs, a digital asset market maker investment firm, has unveiled its intention to acquire $10 million worth of FLOKI tokens. This announcement has catalyzed a striking uptick in the token’s value, driving it to attain a fresh nine-month peak at $0.00005097. This move not only underscores growing institutional interest in meme-inspired cryptocurrencies but also reflects a renewed surge in investor confidence in the potential of Floki Inu within the digital asset landscape.
DWF Labs Strengthens Partnership With Floki Inu
According to the official statement, DWF Labs has outlined plans to acquire the tokens directly from the Floki treasury over a span of two years, underscoring the firm’s commitment to bolstering the protocol’s ecosystem. This strategic move is indicative of DWF Labs’ proactive stance in supporting the growth and development of Floki Inu.
The firm’s decision is grounded in the recognition of a potentially “explosive” bull run within the cryptocurrency industry. DWF Labs aims to harness FLOKI’s utility and robust marketing capabilities to capitalize on this burgeoning opportunity, thereby strengthening its position within the digital asset space.
The partnership between Floki and DWF Labs was initially forged in May 2023, when DWF Labs made an initial purchase of $5 million worth of FLOKI tokens. Since then, DWF Labs has been instrumental in driving FLOKI adoption forward. Notably, the firm has facilitated crucial exchange listings, introduced Floki to influential industry projects, and publicly advocated for the token’s advancement and accomplishments.
DWF Labs emphasized in the announcement that this substantial acquisition of FLOKI tokens will not only deepen its collaboration with Floki but also strategically position FLOKI for prominence in an increasingly competitive landscape during the ongoing bull run. This move underscores the symbiotic relationship between the two entities and their shared vision for sustained growth and success within the crypto market.
Price Soars, TVL Rises, And Chinese TV Exposure
Exciting advancements continue to unfold for FLOKI as it garners significant exposure on China’s prominent national sports TV channels, CCTV5 and CCTV5+. This newfound visibility stems from a strategic market partnership initiated in 2023, with the culmination taking place during the ITTF World Team Table Tennis Championships Finals in Busan 2024.
According to the memecoin development team, this opportunity to feature on mainstream Chinese television has provided FLOKI and its sister asset, TokenFi (TOKEN), with an extensive reach to over 340 million viewers, solidifying their foothold in the Chinese market. The Floki Inu team expressed their exhilaration regarding this milestone, emphasizing that securing a spot on mainstream Chinese television is a remarkable achievement, positioning them among the select few cryptocurrencies to attain such recognition.
In parallel, Floki Inu celebrates another notable milestone with the resounding success of their FlokiFi Locker, a decentralized finance (DeFi) crypto locker protocol. The team proudly announced that the Total Value Locked (TVL) in the FlokiFi Locker had soared to an all-time high of $111 million, setting a new benchmark and underlining the widespread adoption of the token’s utility products.
Furthermore, the team revealed that the total value locked for staked FLOKI tokens had also reached an unprecedented high of $105 million, constituting 25% of the token’s supply. This translates to $105,313,899 worth of tokens locked and staked for up to four years. This commanding position in staking sets FLOKI apart from other major “memecoins” like DogeCoin (DOGE), Shiba Inu (SHIB), BONK, and PEPE, as FLOKI boasts the largest share of its supply staked among them.
On the price front, FLOKI is currently trading at $0.00004080, sustaining its upward trajectory with a remarkable surge of over 32% in the last 24 hours. Consequently, the market capitalization has surged to nearly $500 million, reaching $475 million as per the latest update. Additionally, the trading volume for FLOKI has witnessed a significant surge, reaching $204 million in the past 24 hours, indicative of heightened investor interest and market activity surrounding the token.
