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

As a seasoned crypto investor with over a decade of experience in this wild and ever-evolving market, I’ve learned to read between the lines and decipher the subtle signs that the blockchain often whispers.

Over the last six months, Dogecoin (DOGE) and PEPE have experienced a significant drop, nearly 56% from their highest points. Despite this recent decline, it’s worth noting that the journey leading up to this point has varied for each cryptocurrency.

Dogecoin experienced a clear surge in value from February to March, but this upward trend has since fallen short of the 78.6% Fibonacci retracement mark at approximately $0.107.

Conversely, PEPE experienced a pause in its upward trend in March, but surged again in May, suggesting possibly two separate increases. Notably, it had reached only the 61.8% Fibonacci retracement point when measured from the base of the rally that started in February.

This implies that PEPE might have stronger potential for a bullish trend. However, AMBCrypto delved deeper into the on-chain data to determine if there were additional indicators supporting this hypothesis.

PEPE flashed a warning signal over the past week

Over the last four months, the Average Age of a Mean Coin for Dogecoin has been steadily increasing, starting from April. However, it’s worth noting that this upward trend has shown a slight downward shift over the past fortnight, but the decline hasn’t been substantial. Interestingly, there was a minor surge in the dormant circulation on August 30th as well.

Combined, they signaled a modest increase in buying pressure recently. Yet, the Average Dollar Investment Age persistently increased, suggesting that DOGE might not be primed for an uptrend just yet. This is particularly significant because older coins are still dominating the market, as new ones haven’t returned to circulation yet.

PEPE experienced a substantial decrease in Average Coin Maturity along with an increase in coins lying idle, which suggests a larger surge of selling activity.

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

Examining the supply distribution trends

It appears that wallets holding over a million Dogecoins, particularly those with over 10 million, have consistently added the memecoin to their holdings since June, according to the supply distribution data.

It’s heartening to see this, but it’s worth noting that since June, the group with over 100 million wallets has chosen to offload a portion of their holdings.

Instead of showing clear signs, it seems that PEPE holders with 100 million tokens didn’t exhibit such distinct patterns. Contrary to smaller holders, their numbers haven’t consistently risen as expected, whereas the larger holders were gradually decreasing in number.

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

Generally speaking, the data on the blockchain (on-chain metrics) suggested a preference for Dogecoin, but in the larger time frames, the market price seemed to lean towards PEPE.

2024-09-01 01:11

PEPE flashed a warning signal over the past week

Examining the supply distribution trends

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