Qubic Community Targets Dogecoin After Successful Monero 51% Attack
The Qubic community is planning a potential 51% attack on Dogecoin after successfully executing a similar attack on the Monero blockchain. Sergey Ivancheglo, the project’s founder, confirmed the update following a public vote where Dogecoin was selected over Zcash and Kaspa.
Key Developments
- The Qubic community reorganized six blocks in Monero during last week's attack.
- Ivancheglo invited the community to target another proof-of-work network, leading to concerns about Dogecoin's security.
- Kraken suspended deposits for Monero amid these events.
- The Qubic project claims its actions are stress tests rather than attempts to disrupt networks.
DOGE Price Movement
Dogecoin is currently trading at $0.22, down 4.5% after facing resistance at $0.255. Trading volume has increased by 53%, reaching $2.87 billion.
Analysts suggest that Dogecoin is consolidating in a triangular pattern, with a potential breakout leading to a 30% price movement in either direction.
Market Sentiment
Grayscale has submitted an S-1 filing for a spot Dogecoin ETF, increasing optimism in the market. DOGE open interest has risen to $4 billion. Analyst predictions indicate the possibility of a surge to $0.6533, representing over a 170% increase from current levels if a sustained breakout occurs.
Maxi Doge Fundraising Success
Amidst heightened trading activity, the degen meme coin Maxi Doge has raised over $1.1 million within a month of its launch.
- Ticker: MAXI
- Chain: Ethereum
- Token Price: $0.000252
- Amount Raised: $1,168,645.42
Maxi Doge aims to tap into the memecoin trend while providing utility through staking rewards and exclusive membership benefits.