Koma Inu Surges 170% After Receiving DWF Labs’ Meme Fund Investment
Koma Inu (KOMA), a meme coin project claiming to be the first to build a fully on-chain website, is the initial recipient of investment from DWF Labs’ Meme Fund. This development has led to a 170% increase in KOMA's value within 24 hours.
In a post on social media platform X, Koma Inu announced its collaboration with DWF Labs to enhance creativity and community engagement in the Web3 space. The initiative, based on the BNB Chain, aims to foster innovation within the blockchain ecosystem.
The Meme Fund, launched in December, focuses on developing meme coins and community initiatives in cryptocurrency. DWF Labs has previously worked with other meme projects like Barsik and NikolAI, which were listed on Binance.
As a part of the Meme Fund, DWF Labs will support Koma Inu's market presence with financial resources and strategic guidance, emphasizing interoperability and inclusivity while empowering meme creators to drive innovation.
This year, meme coins on major blockchains such as Solana (SOL) and Tron (TRX) have seen significant gains. Koma Inu has increased by 5753.63% since October 2024, currently trading at $0.1745, with a market valuation of $129.5 million according to CoinMarketCap data.
On December 10th, Koma Inu also confirmed</a its listing on Bitget, a leading exchange with a trading volume of $10.3 billion, ranked sixth globally.
Koma Inu Technicals Bullish
Koma Inu's technical indicators show bullish momentum. The Relative Strength Index (RSI) is at 73.30, indicating overbought conditions. The upward trend of the RSI suggests strong buying pressure, although this typically signals a potential price correction.
The Accumulation/Distribution indicator shows a notable increase, reflecting robust buying momentum from both retail and institutional investors. This rise in trading volume corresponds with KOMA's price appreciation, indicating heightened market interest in the token.