FLOKI Skyrockets 32% Higher Following DWF Labs’ $10 Million Acquisition Plan
27 Fevereiro 2024 - 8:00PM
NEWSBTC
In a significant development for the Floki Inu memecoin, digital
asset market maker investment firm DWF Labs has revealed its plans
to purchase $10 million worth of FLOKI tokens. The announcement has
triggered a remarkable surge in the token’s price, propelling it to
a new 9-month high at $0.00005097. DWF Labs Strengthens Partnership
With Floki Inu According to the official statement, DWF Labs will
acquire the tokens directly from the Floki treasury over two years,
reflecting DWF Labs’ commitment to support the protocol’s
ecosystem. As announced, the firm recognizes the potential
for an “explosive” bull run in the cryptocurrency industry and aims
to leverage FLOKI’s utility and marketing strength to capitalize on
this opportunity. The partnership between Floki and DWF Labs was
initially established in May 2023, when DWF Labs purchased $5
million worth of FLOKI tokens. Since then, DWF Labs has played a
pivotal role in boosting FLOKI adoption. Related Reading:
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What To Expect Next Through the partnership, DFW Labs reportedly
facilitated key exchange listings, introduced Floki to influential
industry projects, and publicly championed the token’s progress and
achievements. DFW Labs concluded in the announcement: This massive
FLOKI token purchase will further deepen our relationship with DWF
Labs while strategically positioning FLOKI for dominance in an
increasingly competitive landscape during this bull run Price
Soars, TVL Rises, And Chinese TV Exposure Exciting developments
continue for FLOKI as it gains significant exposure on China’s
national sports TV channels, CCTV5 and CCTV5+. This exposure
results from a strategic market partnership announced in 2023,
which took place during the ITTF World Team Table Tennis
Championships Finals in Busan 2024. According to the memecoin
development team, this opportunity to be featured on mainstream
Chinese television has introduced Floki and its sister asset,
TokenFi (TOKEN), to an extensive audience of over 340 million
people and solidified their presence in the Chinese market. The
Floki Inu team expressed their excitement about this milestone,
emphasizing that being featured on mainstream Chinese television is
remarkable, making them among the very few cryptocurrencies to
receive such recognition. Related Reading: Bitcoin Spot ETF Inflows
Eye New Record As BTC Price Touches $57,000 Another achievement for
Floki Inu is the success of their FlokiFi Locker, a decentralized
finance (DeFi) crypto locker protocol. The team announced that the
Total Value Locked (TVL) in the FlokiFi Locker had reached an
all-time high of $111 million, setting a new record and
highlighting the widespread adoption of the token’s utility
products. In addition, the team announced that the total value
locked for staked FLOKI tokens has reached an all-time high of $105
million. This represents 25% of the token’s supply, with
$105,313,899 worth of tokens locked and staked for up to 4 years.
This position of dominance in staking distinguishes the dog-themed
token from other major “memecoins” such as DogeCoin (DOGE), Shiba
Inu (SHIB), BONK, and PEPE, as FLOKI has the largest share of its
supply staked among them. The memcoin token is trading at
$0.00004080, maintaining its gains with a surge of over 32% in the
last 24 hours. As a result, the market capitalization has jumped to
nearly $500 million, reaching $475 million, according to the latest
update. Additionally, the trading volume for FLOKI has
significantly increased, reaching $204 million in the past 24
hours. Featured image from Shutterstock, chart from TradingView.com
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