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Dogecoin vs PEPE – Accumulation trend comparison offers a surprising finding!

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PEPE appeared to have greater bullish potential based on price action, but its metrics sent warning signals.

Dogecoin vs PEPE - Accumulation trend comparison offers a surprising finding!

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  • Hike in token movement for PEPE could be an early sign of selling pressure
  • A whale cohort has been slowly accumulating DOGE since June

Dogecoin [DOGE] and PEPE were both down by close to 56% from the highs they made over the past six months. Now, although they have undergone a similar retracement since, the path to this moment has been quite different.

Dogecoin 1-week Chart

Source: DOGE/USDT on TradingView

Dogecoin saw a straightforward rally in February and March, one that has since retraced beneath the 78.6% Fibonacci retracement level at $0.107.

Pepe 1-week Chart

Source: PEPE/USDT on TradingView

On the other hand, PEPE halted its rally in March then rocketed higher in May, appearing to form two rallies. Measured from the base of the rally that began in February, it was only at its 61.8% Fibonacci retracement level.

This suggested that PEPE has greater bullish potential. Even so, AMBCrypto took a closer look at the on-chain metrics to understand if other pieces of evidence corroborated this idea.

PEPE flashed a warning signal over the past week

Dogecoin Santiment

Source: Santiment

The Mean Coin Age (180d) of Dogecoin has been on a healthy uptrend since April. It began to slide lower over the past two weeks, but not by a significant amount. The dormant circulation saw a small hike on 30August too.

Together, they indicated a slight hike in selling pressure over the past few days. However, the Mean Dollar Invested Age continued to trend upwards, highlighting that DOGE may not be ready yet for a rally, Especially since newer coins haven’t re-entered circulation yet.

Pepe Santiment

Source: Santiment

PEPE saw a significant drop in its Mean Coin Age, accompanied by a notable jump in the dormant circulation. This showed a relatively bigger wave of sell pressure.

The MDIA was similar in its trajectory and an uptrend did not seem to be on the cards yet.

Examining the supply distribution trends

Dogecoin Supply Distribution

Source: Santiment

The supply distribution revealed that Dogecoin wallets with more than 1 million, but especially more than 10 million, have been accumulating the memecoin since June.

While this is an encouraging sight, the 100 million and more wallet cohort has sold some of their holdings since June.

Pepe Supply Distribution

Source: Santiment

On the contrary, PEPE holders’ behavior did not give such discernible signals. The 100 million PEPE holding cohort has not trended as cleanly higher as the smaller holders, while the next biggest holders were on a slow downtrend.


Read Dogecoin’s [DOGE] Price Prediction 2024-25


Overall, the on-chain metrics tended to favor Dogecoin while the price action was in favor of PEPE on the higher timeframes.

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Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis. In fact, Akashnath has a particular interest in reading price charts and predicting how an asset will move over the short and long term. A self-taught trader and as someone who holds cryptos himself, he is always on the lookout for the next opportunity he can possibly capitalize on, while also educating his audience.
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