DWF Labs, a Web3 investor and market maker based in Dubai, has launched a $20 million fund to support memecoin projects.
The fund aims to support community-driven, innovative crypto projects, enhance their visibility, and improve their interactivity.
The DWF Labs fund provides financing and strategic support to memecoin projects with strong community engagement, unique value, and global growth potential. With a Chain-Agnostic approach, the fund is committed to empowering creators, regardless of the blockchain platform they use.
The fund is now open to applications from promising memecoin projects seeking investment opportunities and strategic guidance. Interested parties can submit their proposals through the official DWF Labs website.
"Memecoins have become a powerful cultural force in the crypto space, connecting communities through shared humor and creativity. The meme fund is how DWF Labs supports and propels this dynamic field, helping developers and communities turn their ideas into truly impactful projects," Andrei Grachev, Managing Partner at DWF Labs, shared.
DWF Labs has collaborated with several successful memecoins, such as Floki, Turbo, Simon's Cat, and Neiro Ethereum. Recently, the company has partnered with Russian internet celebrity Hasbulla and NikolAI, further expanding its portfolio of meme-based projects.
The development team has collaborated with Hasbulla to create a new token inspired by the cat Barsik. The blockchain project also supports animal welfare, primarily for cats, making it a charitable initiative in the works. The token was announced on November 14, and its value reached a peak of $0.33 just three days later before a significant decline.
It's no surprise that BARSIK, named after Hasbulla's cat, saw an immediate price surge. Such sudden spikes are common with new token launches, but whether BARSIK can sustain its growth in the long run is another story. At the moment, the memecoin is trading around $0.12, with a market capitalization of $120 million.
Onchain Lens reported that a trader spent $142 to buy 11.63 million BARSIK on Pump.fun, and these tokens are now worth around $1.4 million.
Overall, the memecoin market has experienced a frenzy following Donald Trump's re-election as president. Benefiting from the election, the entire crypto market enjoyed a strong price surge.
The memecoin sector had a total market capitalization of $56 billion on the eve of the election and has now surpassed $118 billion at the time of writing.
You can view coin prices here.
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According to BeInCrypto
