Bitcoin News Today: DOGE Outperforms PEPE as Memecoin Market Surges 4% in 24 Hours

PEPE’s holder count surged to a record 472,158 amid an 18% weekly price decline, while Dogecoin (DOGE) demonstrated stronger technical and fundamental positioning in the memecoin market, with whale activity and broader adoption supporting its recent price recovery. The memecoin sector experienced a nearly 4% rise in 24 hours, with inflows exceeding $5 billion in two days, pushing the total market capitalization to $65 billion. This resurgence reflects a growing appetite for high-beta assets as traders shift funds from Bitcoin to speculative memecoins [1].

DOGE rebounded to $0.20, gaining 3.51% after a 30% decline from its $0.27 peak two weeks earlier. In contrast, PEPE recorded a modest 1.61% gain but underperformed DOGE on the PEPE/BTC pair, which rebounded from a key support level of 0.0000000000852 BTC, indicating some resilience despite overall weakness [1]. The DOGE/BTC pair gained 1.72% at the start of the week, with six of the top ten daily gainers being meme tokens, underscoring the sector’s speculative momentum [1].

On-chain data reveals significant differences in token distribution between the two. PEPE’s top 100 holders control 72.74% of the supply, with the top 10 alone holding 39%, indicating a high degree of supply concentration. DOGE’s top 100 wallets hold 63.79%, and its top 10 holders account for 44% of the supply, suggesting a more balanced distribution [1]. This structural difference may contribute to DOGE’s stronger price performance, as it gained 30% in July compared to PEPE’s 12.8% [1].

Despite PEPE’s price drop, its increasing holder count highlights sustained community engagement and speculative interest. On the other hand, DOGE’s larger holder base and more distributed ownership appear to offer greater stability and market resilience. Analysts note that supply concentration among top holders can influence market dynamics and price stability, with higher concentration often leading to greater volatility [1].

The broader memecoin market is showing signs of renewed interest, driven by inflows and speculative trading. Traders are rotating capital from Bitcoin to higher-risk assets in pursuit of short-term gains, further amplifying the momentum in the sector [1]. While PEPE remains absent from the top gainer lists, its record holder count suggests it has not yet lost market attention, raising questions about potential delayed momentum or capital rotation.

As the market evolves, DOGE appears to be better positioned to benefit from the current speculative environment. Investors are advised to monitor on-chain metrics and capital flows to gauge potential shifts in momentum and risk appetite [1].

Sources: [1] PEPE Holder Count Hits Record Amid Price Dip, While Dogecoin Shows Stronger Technical and Fundamental Position (https://en.coinotag.com/pepe-holder-count-hits-record-amid-price-dip-while-dogecoin-shows-stronger-technical-and-fundamental-position/)