KuCoin Soars 16% on Dogecoin Mining Expansion News
Exchange token rockets as mining capabilities expand to include meme coin favorite.
Market Momentum
KuCoin's native token surged double-digits as the exchange announced support for Dogecoin mining operations. The 16% spike reflects growing institutional interest in alternative mining opportunities beyond Bitcoin's energy-intensive model.
Strategic Shift
The move positions KuCoin against established mining giants while tapping into Dogecoin's retail-friendly ecosystem. Mining DOGE typically requires less computational power than Bitcoin—making it accessible to smaller operations and retail miners looking for entry points.
Market Impact
Analysts note the timing aligns with renewed meme coin enthusiasm across crypto markets. While traditional finance scoffs at 'dog money,' the numbers don't lie: where there's meme volume, there's money to be made—even if it makes bankers uncomfortable at cocktail parties.
Source: CoinGecko
Will Dogecoin Mining Send KuCoin To a New All-Time High?
KuCoin is launching the KuMining platform, which aims to give institutional investors exposure to Bitcoin (BTC) and dogecoin (DOGE) hashrate. According to reports, the initiative will be backed by global mining facilities with 300 megawatts (MW) to 2 gigawatts (GW) of power resources.
The Dogecoin and Bitcoin mining exposure may lead to increased interest in KuCoin (KCS). The asset is currently down by nearly 48% from its all-time high of $28.83. KCS hit its peak during the 2021 bull run, nearly four years ago.
CoinCodex analysts anticipate KuCoin (KCS) to rally over the coming weeks, but do not anticipate the asset to hit a new peak anytime soon. CoinCodex predicts KCS to hit $17.61 on Nov. 16. Hitting $17.61 from current price levels will translate to a rally of about 17.24%.
KuCoin has also signed an MoU with the Vietnam Blockchain and Digital Assets Association and 1Matrix to further advance the country’s blockchain infrastructure. The development may lead to more adoption of KCS in Vietnam.
KuCoin has signed an MoU with @VietnamVBA and @1matrixvietnam to advance blockchain infrastructure and digital asset development in Vietnam.
This collaboration focuses on:
Pilot trading platforms & payment solutions
Digital identity & risk management tools
Supporting… pic.twitter.com/eGw3YAabPF
There is a possibility that KuCoin’s (KCS) price will face a correction in the coming weeks. Given that the larger market is still struggling the gain momentum, KCS’s price may give in to market pressure. An interest rate cut in the US could provide some cushioning to any possible volatility. How things MOVE hereon is yet to be seen.
