Dogecoin (DOGE) rival Floki (FLOKI) is surging as cryptocurrency investment firm DWF Labs pledges to make a large new purchase of the memecoin.
DWF Labs informs its 85,800 followers on social media platform
“We are excited to announce our continued support for Floki. We’re excited to be able to support the team through some exciting launches this year. The mainnet version of the metaverse game Valhalla and several key utility projects. We congratulate the team on their efforts to drive widespread cryptocurrency adoption and solidify our role as a top player in the cryptocurrency space.”
According to a new Floki blog post, DWF Labs’ support is a commitment from the investment firm to purchase $12 million worth of Floki tokens.
“As proof of our unwavering support for the Floki ecosystem, DWF Labs will purchase $12,000,000 in FLOKI tokens. A portion of the tokens will be acquired from the market and the remainder will be secured from the Floki treasury.”
The project says the new promise adds to DWF Labs’ promise to purchase $10 million worth of FLOKI tokens in February.
Floki surged more than 30% on the DWF Lab news, hitting a new all-time high of $0.00034. Floki has since gone back and is trading at $0.00030 at the time of this writing.
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