Bitcoin News Today: Qubic Targets Dogecoin for 51% Attack Simulation as BTC Drops to $115,000

The crypto market faces renewed turbulence as Qubic, a blockchain stress-testing group led by IOTA co-founder Sergey Ivancheglo, announced a community vote to target Dogecoin (DOGE) for a 51% attack simulation [1]. The move follows Qubic’s earlier attack on Monero (XMR), which caused short-term panic and liquidity issues. This time, the focus on Dogecoin has heightened investor anxiety due to its relatively low hashrate and historical security concerns. The decision has already begun affecting DOGE’s spot price, with market makers trimming exposure ahead of potential volatility [1].

Bitcoin (BTC) has also fallen to $115,000, marking a key level of concern for the broader market. The decline came after U.S. inflation data exceeded analyst forecasts, dashing hopes for a September rate cut by the Federal Reserve [1]. Analysts note that Bitcoin’s weakness is spilling over into altcoins, intensifying downward pressure on assets like Dogecoin, which is highly correlated with BTC’s performance [1].

Qubic claims that these attacks are essential for testing blockchain resilience, but critics argue the project is engaging in self-promotion and destabilizing vulnerable networks [1]. Ivancheglo has defended the practice as a form of cybersecurity research, though skeptics see it as an opportunistic tactic that exploits market psychology [1]. The debate underscores the ongoing tension between experimental transparency and market integrity in the crypto space.

Price analysts have outlined three potential scenarios for Dogecoin by 2025 based on the current developments. In a bullish case, a failed attack and a BTC rebound above $125,000 could push DOGE to $0.24–$0.30. A base case, involving prolonged Fed caution and limited impact from the attack, could see DOGE trading between $0.16–$0.20. In a bearish scenario, a successful attack and continued BTC weakness below $115,000 could send DOGE as low as $0.08–$0.12 [1].

The macroeconomic environment remains a key variable. If the Federal Reserve adopts a dovish stance at the upcoming Jackson Hole meeting or later in the year, it could provide liquidity support to high-risk assets like Dogecoin. Conversely, if inflation remains stubborn and monetary policy stays tight, DOGE is likely to face extended headwinds [1].

Dogecoin’s future will depend on both the outcome of Qubic’s experiment and the broader macroeconomic landscape. The market is watching closely for signals on whether the Fed will pivot toward easing and how investors will react to the perceived security risks posed by Qubic’s actions [1].

Source:

[1] Qubic Picks Dogecoin for 51% Attack Simulation: Panic Spreads as BTC Dips to $115K (https://coinmarketcap.com/community/articles/68a32bea0305013001d8e34f/)