A dynamic holographic stereogram (HS) rendering technique using temporal and perspective (TP) coherence is proposed and demonstrated. It solves the issue that previous holographic rendering methods are difficult to record HS of time-varying three-dimensional (3D) images efficiently. In our technique, a unified mathematical model is set in EPIpolar coordinates for the generation of light field images of dynamic HS. The time dimension is encoded in angular coordinates through angular multiplexing. Temporal coherence of dynamic 3D images is applied to simplify the rendering of action key frames. The action key frames are the same as conventional key frames, but have 3D information. Perspective coherence is used to render the light field images between two adjacent action key frames. Parallel computing technology combined with TP coherence is used to accelerate the rendering, which is on average 378.8% faster than traditional serial per-viewpoint rendering (PVR) algorithms. HSs with vivid and striking 3D animations are demonstrated using a custom holographic printing system, which validates the effectiveness of the proposed method. The results pave the way towards developing high-performance dynamic HSs that can be used in 3D display, visual security, and virtual/augmented reality domain.