DWF Labs, a Web3 investor and market maker based in Dubai, has launched a $20 million fund to support meme coin projects.
The fund aims to support innovative community-driven cryptocurrency projects that promote inclusion and interoperability.
DWF Labs’ Impact on the Meme Coin Market
DWF Labs Foundation provides financial resources and strategic support to meme coins with strong community connections, unique value, and global potential. By adopting a chain-agnostic approach, the fund wants to empower innovators regardless of their blockchain.
This meme fund is open to promising meme coin projects looking for investment and guidance. Interested parties can submit their proposals via the DWF Labs website.
“Meme coins are a powerful cultural force in the crypto landscape, often unifying communities around humor and shared creativity. Meme Fund is our way of supporting this vibrant industry and helping developers and communities turn their ideas into impactful projects,” Andrei Grachev, Managing Partner at DWF Labs, shared with TinTucBitcoin .
DWF Labs has collaborated with several successful meme coins such as Floki, Turbo, Simon’s Cat and Neiro Ethereum. Recently, DWF Labs partnered with Russian internet personality Hasbulla and NikolAI, further expanding its portfolio of meme-based projects.
Their team collaborated with Hasbulla to create a new Token inspired by his cat, Barsik. This blockchain project also supports cat welfare, incorporating it into an ongoing charity initiative. Although the token was announced on November 14, its price peaked at $0.33 just three days later before decreasing slightly.
Unsurprisingly, BARSIK, named after Hasbulla’s late cat, saw an immediate price increase. These types of fluctuations are common with new tokens, but whether BARSIK can maintain this momentum in the long term is another story. At the time of writing, it is trading at $0.22 with a market capitalization of $226 million.
Then Onchain Lens report that a trader spent 142 USD to buy 11.63 million BARSIK on Pump.fun. Currently, their Tokens are worth 2.5 million USD.
In a broader perspective, the meme coin market recently experienced a massive boom following the re-election of Donald Trump to the presidency. As an indirect consequence of election day, the entire cryptocurrency market benefited from a strong price rally.
More specifically, on the eve of the election, meme coins had a total market capitalization of $56 billion. At the time of this writing, it has surpassed $118 billion.
