Qubic Takes Aim at Dogecoin Following Monero’s 51% Attack – What’s Next?

After Monero's shocking 51% attack rattled the crypto world, Qubic is setting its sights on Dogecoin—yes, the meme coin that Wall Street still won’t take seriously.

Why Dogecoin? Because even jokes have value in crypto-land.

Qubic’s move signals a deeper play: targeting coins with 'loyal but complacent' communities. And let’s be honest—after a 51% attack, everyone’s rethinking security.

Will Dogecoin’s army of Shiba Inu fans defend their turf? Or is this the wake-up call the 'fun money' crowd didn’t know they needed?

Meanwhile, traditional finance guys are still trying to explain why a coin with a dog logo has a market cap bigger than their favorite mid-cap stock. Stay tuned.

DOGE Price Chart In The Red After Qubic Targets Dogecoinc

With its market capitalisation of $35Bn, dogecoin is firmly on Qubic’s radar, accumulating 300 votes, eclipsing the other contenders’ total tally.

Currently, Dogecoin’s price is trading in the red. The memecoin is in a sharp decline as of this writing, slipping more than 5%, bringing it closer to its critical $0.21 support.

This decline occurred after users discovered Qubic’s targeting of Dogecoin.

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On-chain and derivatives data further reinforce the current bearish sentiment as Doge holders incur losses and short positions gain traction among traders.

Santiment’s Network Realised Profit/Loss (NPL) indicator, which measures market pain, slid from 2.68 million to -271.41 million between 14 and 15 August, indicating holders are realising losses and increasing selling pressure.

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This is the lowest dip that the indicator has recorded since July 2022.

Moreover, Coinglass’s long-to-short ratio hit 0.79 on 18 August 2025, its highest in over a month, signalling a bearish sentiment as traders scramble to position for a decline in Dogecoin’s price.

Dogecoin saw an 8.58% pullback on 14 August 2025, facing resistance at the $0.24 daily level. It found support NEAR $0.21 from where its price rebounded 4.6% through Sunday.

The memecoin is currently trading at around the $ 0.22 level. A slide down its support at $0.21 could lead to further downturns, with key support resting at $0.18 level on the weekly chart.

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Momentum indicators show market uncertainty. While the daily RSI hovers at a neutral 50, the MACD lines converge, suggesting market indecisiveness.

Qubic’s Reasoning Behind Monero Attack: “A lot of electricity is burned for useless #POW”

Qubic’s mining pool achieved a six-block reorganisation following a month-long standoff with Monero miners. At the time of this writing, it commands a hash rate of approximately 2.32 Gh/s, currently the most powerful on the Monero chain, according to MiningPoolStats’s data.

After the takeover, Qubic announced that Monero’s Core features, such as privacy and transaction speeds, remain uncompromised.

However, it spelled out its end goal: to provide Monero’s security by Qubic miners.

When asked about the reason behind his attack on Monero, Ivancheglo said on X, “A lot of electricity is burned for useless #PoW, we need that electricity for #AI.”

Qubic’s aggressive scaling strategy has caused quite the stir in the proof-of-work landscape. It is now going after established blockchains to test their limits.

While Dogecoin is a significantly larger fish to fry, Qubic’s miner community has approved this project.

Key Takeaways

• Qubic miners are now going after established blockchains like Dogecoin
• Qubic wants Monoero’s security to be provided by Qubic miners
• DOGE price is in the red after this announcement and has slipped more than 5% today