DWF Labs invested in the developers of the FLOKI meme-coin

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DWF Labs has announced a partnership with the Floki meme token development team and announced that it is buying project tokens for $5 million.

"This partnership is built on DWF Lab's strong belief in the potential and future of the Floki ecosystem," company representatives say.

DWF Labs is going to use its network andresources to help speed up the spread of the meme token. The company claims that they feel a high institutional demand for the FLOKI token and the Floki ecosystem:

"DWF Labs' close relationships with exchanges, investors, and leading projects will benefit Floki and help the project grow at a much faster pace in the coming weeks or months."

The creators of the Floki project would like to outgrow suchcompetitors like Dogecoin and Shiba Inu, becoming the most widely used memcoin. After the announcement of the partnership, the price of Floki increased by 0.71% per day. On the afternoon of Friday, June 26, the FLOKI token was trading at $0.0000314.

Recall that the Floki Inu project was launched onwave of popularity of the Dogecoin cryptocurrency and the Shiba Inu token. Currently, Floki has more than 440,000 users, and the project capitalization is $312 million. Earlier, Bits.media published an article on how memcoins can replace regular money.