In a surprising turn, $BABYDOGE has climbed to the top three in Wintermute’s memecoin holdings by value.

Just three days ago, Wintermute received 370 trillion BABYDOGE tokens—valued at $7.58 million—through a token vesting contract from UNCX Network. As of four hours ago, Wintermute has deposited all of these tokens into major exchanges like Bybit and Binance.

In a move that could further strengthen BABYDOGE’s market position, the BabyDoge team has announced that 50% of revenue from their puppy.fun platform will be dedicated to burning BabyDoge tokens.

This initiative is projected to reduce the token’s total supply by up to 95%, a bold strategy aimed at boosting demand and, potentially, price.

Wintermute Holds These Memecoins 

A snapshot of Wintermute’s memecoin portfolio reveals some interesting trends. Binance-listed tokens dominate Wintermute’s top 20 holdings, accounting for 55% and including well-known coins like $PEPE, $FLOKI, $BABYDOGE, $NEIRO, $WIF, and $BONK.

In Binance’s futures offerings, Wintermute holds tokens like $PEPE, $BONK, $GOAT, $MOODENG, $MEW, $POPCAT, and $NEIROETH. This heavy focus on Binance listings shows Wintermute’s preference for liquidity-rich assets in the memecoin space.

Furthermore, 90% of Wintermute’s memecoin holdings boast market caps over $100 million, with 30% even surpassing the $1 billion mark, underscoring the firm’s strategic targeting of high-cap assets in this volatile sector.

As Wintermute strengthens its hold on the meme market, its significant BABYDOGE position, coupled with ongoing token burns, could set the stage for a shakeup among top memecoins.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

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