Floki, a rival of Dogecoin (DOGE), is currently experiencing a surge in value after crypto investment firm DWF Labs announced a substantial new purchase of the memecoin.

With 85,800 followers on X, DWF Labs took to social media to express their support for Floki, highlighting the project’s advancements in the digital assets sector. They praised Floki’s team for their work in driving widespread crypto adoption and establishing themselves as a major player in the crypto space.

In a recent blog post, Floki revealed that DWF Labs has committed to buying $12 million worth of Floki tokens as a show of their unwavering support for the project. This new investment comes on the heels of DWF Labs’ previous commitment in February to purchase $10 million worth of FLOKI tokens.

Following the news from DWF Labs, Floki saw a significant increase 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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