Floki, a dog meme coin-turned-utility project, is poised for significant growth in the coming months. DWF Labs, a prominent crypto trading firm, has pledged to purchase $12 million worth of FLOKI tokens from both the open market and Floki’s treasury.

This substantial investment aims to bolster the project’s expanding ecosystem, following a previous commitment of $10 million in February, which resulted in a 50% surge in FLOKI prices.

DWF Labs Significants Input In Floki

According to the source, DWF Labs’ involvement has been instrumental in facilitating key exchange listings and strategic partnerships, fostering positive sentiment within the Floki community.

Furthermore, the firm’s recent purchase will specifically support the development of several upcoming utility products, including the mainnet release of Floki’s flagship metaverse game, Valhalla, scheduled for later this year. Other anticipated releases include the Floki trading bot and the .floki domain name service.

This commitment builds upon a long-standing partnership between Floki and DWF Labs, which began in May 2023 with a $5 million investment. DWF Labs also pledged a $10 million investment over two years in TokenFi, Floki’s sister project, to develop a suite of artificial intelligence (AI) products.

The news of DWF Labs’ latest investment has positively impacted FLOKI prices, which have surged 8% in the past 24 hours, outperforming the broader crypto market’s 0.4% gain as measured by the CoinDesk 20 Index (CD20).

Floki Trader Turns $9,775 to $10m in 24 hours

A Floki memecoin trader invested $9,775 and made $10 million in 24 hours by buying $GUMMY before it went live and holding onto it until the investment resulted in seven figures.

The asset gave them 1,205x return in a single trade, which sparked a lot of debate in the community. Many were curious about how they received the signal to buy. While many use bots to facilitate new trades and quickly buy new coins, others refuted claims of bots’ involvement.

According to on-chain data, the trader withdrew the coin used for the transaction a few minutes before the purchase. Therefore, top analysts alleged it was an insider trade or a leak. One of them said on X, “It is 100% insiders based on metadata, as snipers already have accounts loaded – Scam team.” Another posted, “100% insider timing, too clean. Wallet dispersal is to create an illusion of distribution.