Web3 investment firm DFW Labs has announced plans to purchase an additional $10 million worth of FLOKI tokens, doubling down on its commitment to the Floki Inu ecosystem. This investment comes amid a wider crypto market upswing, with many assets experiencing significant price increases.

FLOKI's price surged by 35% shortly after the announcement, reaching a 10-month high and pushing its market capitalization close to the $500 million mark. This positive momentum is in line with the broader resurgence of the cryptocurrency sector, with Bitcoin and Ethereum also witnessing substantial gains.

Other meme coins, such as Pepe Coin, Bonk Inu, and dogwifhat, have also seen double-digit price rallies, pushing the niche's market capitalization past $26 billion. This optimistic outlook for the market, along with DFW Labs' significant investment, could further solidify FLOKI's position as a leader in its field.