Dubai-based Web3 investor DWF Labs has launched a $20 million fund to support memecoin projects.

The fund initiated by DWF Labs aims to promote creative and community-focused crypto projects and increase interoperability and inclusiveness between blockchains. The fund also accepts applications from promising meme coin projects seeking investment and guidance. Projects can submit their proposals through DWF Labs' website.

Memecoins that stand out with DWF Labs

DWF Labs has previously worked with meme coin projects such as Floki, Turbo, Simon’s Cat, and Neiro Ethereum. Recently, it has expanded its portfolio by collaborating with Russian internet sensations Hasbulla and NikolAI to add new meme-based projects.

As a result of the collaboration with Hasbulla, a new token was created inspired by his cat Barsik. The token reached $0.33 within three days after its announcement on November 14th, but then experienced a slight drop.

Onchain Lens stated that an investor purchased 11.63 million BARSIK tokens through Pump.fun by spending 142 dollars, and these tokens are currently worth 2.5 million dollars.

Donald Trump accelerated the rise in the crypto market

The memecoin market gained momentum after Donald Trump was re-elected as president. After the election day, the cryptocurrency market experienced a bull run. The total market value of memecoins was $56 billion the night before the elections. This value has now exceeded $118 billion.

This article does not contain investment advice or recommendations. Every investment and trading activity involves risks, and readers should conduct their own research when making decisions.