Floki, a rival of Dogecoin (DOGE), is experiencing a surge in value after crypto investment firm DWF Labs announced a significant purchase of the memecoin. With 85,800 followers on the social media platform X, DWF Labs shared their support for Floki, highlighting the project’s ecosystem advancements that are solidifying its position in the digital assets sector.

“We are excited to continue our support for Floki and collaborate on various upcoming launches this year, including the mainnet version of Valhalla, a metaverse game, and other utility projects. Congratulations to the team for their efforts in promoting widespread crypto adoption and establishing themselves as a key player in the crypto space,” DWF Labs stated.

In a recent blog post, Floki revealed that DWF Labs has committed to purchasing $12 million worth of Floki tokens, further demonstrating their dedication to the project. This commitment follows a previous pledge by DWF Labs in February to buy $10 million worth of FLOKI tokens.

Following the news from DWF Labs, Floki saw a surge of over 30%, reaching an all-time high of $0.00034 before retracing slightly to trade at $0.00030 at the time of writing.

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