The post Dogecoin vs PEPE – Accumulation trend comparison offers a surprising finding! appeared on BitcoinEthereumNews.com.

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. 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. 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 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. 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…

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Filed under: News - @ August 31, 2024 10:05 pm