KOMA up 200% following DWF Labs backing and exchange listings

Koma Inu, a meme coin based on BNB Chain, saw its price skyrocket after receiving support from the DWF Labs Meme Fund.

Koma Inu (KOMA) is up 200% in the last 24 hours and is trading at $0.171 at the time of writing. Meme coin reached an all-time high of $0.192 earlier today with a market cap of $192.2 billion.

KOMA’s daily trading volume increased by 2,400% last day, reaching over $154 million, signaling intense demand from investors. The recent rally pushed the altcoin’s two-week gains to over 220% and monthly gains to nearly 2,600%, establishing the altcoin’s position as one of the best-performing meme coins.

Why is KOMA on the rise today?

KOMA soared after leading crypto venture capital firm DWF Labs selected Koma Inu as the first recipient of its $20 million Meme Fund.

As the recipient of the fund designed to support blockchain-agnostic meme coin projects, Koma Inu will benefit from DWF Labs’ support in expanding its presence in the market, as well as access to financial resources and strategic guidance.

Moreover, the meme coin recently secured listing on several high-profile centralized exchanges, including Binance, Bybit, and Bitget, expanding its reach to investors and adding to its recent gains.

KuCoin, another top centralized exchange, included KOMA in its latest GemVote event, where community support could potentially secure a listing on the platform. According to data from CoinGecko, the total daily trading volume of these CEXs is over $46 billion.

Altcoins often experience significant price increases following exchange listings. As previously reported by crypto.news, Movement’s native token, MOVE, surged 50% on December 10, reaching an all-time high due to similar leading exchange listings.

Supporting the meme money ecosystem

DWF Labs has a strong history of partnering with meme coins and has supported projects that support the development of the meme coin ecosystem. In September, it partnered with meme coin launchpad GraFun to increase the liquidity of the project.

Last year, the firm invested nearly $6 million in Ethereum-based memecoin Floki through two separate investments and also helped support the development of the project.