Dogecoin Community Faces Threat as Qubic Votes for 51% Attack
Dogecoin (DOGE) experienced a 4% decline, trading over 22 cents. The Qubic community, known for targeting Monero, voted to focus on DOGE for a potential 51% attack, citing concerns about blockchain resilience.
- Qubic announced ongoing discussions regarding DOGE, indicating preparations may take time.
- Sergey Ivancheglo, Qubic's founder, confirmed the community's choice to target DOGE after a vote.
- DOGE leads the Cumulative Volume Delta (CVD) decline among top cryptocurrencies, dropping nearly 1%, signaling stronger selling pressure.
- Bitcoin (BTC) fell close to $115,000, down from over $124,000, influenced by higher-than-expected U.S. producer price inflation.
- Analysts expect a 25-basis-point Fed rate cut in September amidst ongoing economic uncertainty.
The market remains cautious as key economic indicators continue to fluctuate, impacting cryptocurrency prices.