DWF Labs has initiated a $20 million meme fund. The chain-agnostic fund provides support for meme coin initiatives that are community-driven and inventive, covering all blockchains.
DWF Labs, a Dubai-based Web3 investor and market creator, has established a $20 million fund to provide support for meme coin initiatives.
The fund’s objective is to provide support to innovative, community-driven crypto initiatives that prioritize inclusivity and interoperability.
The DWF Labs fund offers financial resources and strategic support to meme coins that exhibit strong community engagement, distinct value, and global potential. It endeavors to empower creators irrespective of their blockchain by adopting a chain-agnostic approach.
The meme fund is accepting applications from promising meme coin initiatives that are in need of investment and guidance. The DWF Labs website is the portal through which interested parties can submit their proposals.
DWF Labs has previously collaborated with numerous successful meme currencies, including Floki, Turbo, Simon’s Cat, and Neiro Ethereum. DWF Labs has recently formed a partnership with NikolAI and Russian internet personality Hasbulla, thereby enhancing its portfolio of meme-based projects.
In memory of his cat, Barsik, their team collaborated with Hasbulla to develop a new token. Concurrently, the blockchain project contributes to the welfare of cats by integrating it into an ongoing charitable initiative. The token’s value reached its zenith at $0.33 three days after its announcement on November 14, and it subsequently experienced a modest decline.
It is unsurprising that BARSIK, which was named in memory of Hasbulla’s deceased cat, experienced an instantaneous price increase. These types of surges are not uncommon in the context of new token releases; however, the sustainability of BARSIK’s momentum in the long term remains uncertain. It is currently trading at $0.22 and has a market capitalization of $226 million at the time of writing.
Subsequently, Onchain Lens disclosed that a trader expended $142 to acquire 11.63 million BARSIK on Pump.fun. As of now, the value of their tokens is $2.5 million.
Following Donald Trump’s re-election to the presidency, the meme coin market has been undergoing a recent hysteria. This is a broader perspective. The entire cryptocurrency market has been experiencing an aggressive bull run as an indirect consequence of election day.
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