stochastically ordering items by frequency
If you believe your data will fit a curve, then, like stochastic counters which conditionally increment based on a probability suitable to the conditions, you could perform stochastic swaps to conditionally promote items up the list based on a probability. I guess the theory includes a flat probability but I don’t see the point in that.
This allows you to keep a much more dense representation of the histogram of your data (one assumes storing counts would be very large, which is why you’re optimising this), and it means that you can edit it less frequently. Less housekeeping, less dirty cache, less eviction, less memory bandwith, less coherency contention.
What you need to keep is a list of keys (or key indices), and a list of indices into that list saying where each key occurs. Given a new key you find its index and from that and the total count you decide [probabilistically] whether or not you’re going to do a swap. If you do decide to do a swap then you swap that key with the next one in the list and update both their indices.
Or you can do the same thing in a doubly-linked list, if that works better (it depends on your data representations).