Why were you looking to make a move in the first place? Most people don't move just because of money so more money isn't going to fix the issues that made you start looking.
Historically, accepting counteroffers from your current company doesn't work out. I think the statistic is 60% of those who accept a counter offer are gone within 12 months anyway. And not necessarily for as good an offer as the one they turned down to accept the counteroffer.
I have had many candidates call me after they turned down an offer asking if it was still on the table as the counter did not work out. The record for that call was two days. I have seen companies lie like crazy to keep a candidate more than once. So make sure they have the authority to actually do whatever they're promising to make you stay.
And chances are fairly good that the second company may not want to work with you as a candidate in the future. The information that you turned down their offer will certainly be in their system.
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