Here’s Why FLOKI Price Skyrockets 24%

Digital asset market maker DWF Labs has again purchased an additional batch of Floki worth $1.2 million. The tokens were purchased from the Floki treasury on December 5. This smart decision not only cements their commitment to the Floki Ecosystem but also prepares them for what promises to be an incredible crypto bull market.

Replying to the announcement, DWF acknowledges the Floki community and said that they are happy to express their commitment through the token purchase.

DWF Commitment And Floki Price Surge

After the token acquisition, the Floki (FLOKI) price experienced a meteoric rise, catapulting its value to $0.00004488. This surge was marked by a 24.68% increase in the last 24 hours. The token is up 40% from the last 7 days.

This isn’t the first time the firm has purchased a massive amount of FLOKI. Previously, DWF Labs finalized an over-the-counter (OTC) token purchase in early November.

As per the data provided by Spot on Chain, on November 1,  DWF Labs received 120 million tokens from Floki. The transfer, executed in two tranches of 60 million tokens each, originated from Floki’s Multisig wallet. This complex transfer raises questions, and one plausible explanation is that DWF Labs secured these assets as one of its seed investors.

However, the move is also DWF’s conviction that Floki is poised to be a standout Web3 project, aligning seamlessly with DWF Lab’s vision of establishing itself as a dominant force in the crypto space.

Floki and DWF Labs’ first partnership surfaced in May 2023 with a substantial $5 million FLOKI token purchase. Since then, DWF Labs has played a pivotal role in fostering Floki’s growth.

From facilitating key exchange listings to fostering collaborations with industry projects, their contributions have been instrumental in propelling Floki toward wider adoption.

Also Read: BitMEX Announces Terra Classic (LUNC) Perpetual Contract Listing After USTC

DWF To Support TokenFi Project

Unfolding further partnerships, DWF also commits to support TokenFi (TOKEN), Floki’s sister project. This initiative seeks to disrupt the projected $16 trillion tokenization and Real World Assets (RWA) industry. Having chosen DWF Labs as the exclusive market maker (MM) for TokenFi, Floki acknowledges the tremendous and mutually beneficial relationship that has defined their journey thus far.

This bold vision aligns with Floki’s commitment to innovation and market disruption. Additionally, it sets the stage for a venture that extends beyond conventional cryptocurrency drives.

Also Read: Ripple CTO David Schwartz Criticizes SEC’s ‘Shocking’ Conduct In Debt Box Case

✓ Share:

Advertisement

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Advertisement