Dogecoin News Today: Qubic Targets Dogecoin for 51% Attack Simulation After Monero

The Qubic network, led by Sergey Ivancheglo, has announced its decision to target Dogecoin for a 51% network attack following a similar move against the Monero blockchain. The decision, made through a community vote, positions Dogecoin as the next potential victim of a coordinated mining effort aimed at demonstrating the vulnerabilities of proof-of-work (PoW) networks [1]. The choice came after a poll conducted on social media, in which Dogecoin outperformed competing blockchains like Zcash and Kaspa [2]. The Qubic community, which previously gained notoriety for breaching Monero’s security, has emphasized its broader mission to challenge the efficiency of traditional PoW consensus models [5].

The announcement quickly impacted the market, triggering a nearly 4% drop in Dogecoin’s value within 24 hours. This sharp decline reflects increased bearish sentiment and rising concerns over the stability of PoW-based cryptocurrencies [3]. The move also prompted exchanges to enhance their monitoring and scrutiny of Dogecoin transactions, as the potential for network manipulation remains a pressing issue [2]. On-chain data further underscores the growing selling pressure, with Santiment’s Network Realised Profit/Loss indicator hitting a significant low of -271.41 million on 14–15 August [6]. Meanwhile, Coinglass’s long-to-short ratio climbed to 0.79 on 18 August, indicating a shift toward more bearish positioning among traders [7].

While Qubic has not yet reached a 51% hash rate dominance for Dogecoin, it has already secured more than 33% of the network’s computing power—enough to initiate a successful attack [8]. The group has framed its actions as a test of the resilience of established PoW blockchains and an argument for redirecting computational resources toward more “useful” applications such as AI-driven computing [9]. However, the targeting of a high-profile project like Dogecoin has also sparked broader concerns about the vulnerability of large-cap cryptocurrencies to coordinated mining attacks, despite their market dominance.

Sergey Ivancheglo, known on social media as Come-from-Beyond, confirmed the decision via an X post on 17 August 2025, emphasizing the community-driven nature of the initiative. He stated, “The Qubic community has chosen Dogecoin,” highlighting the strategic intent behind targeting a widely followed cryptocurrency [4]. This marks a shift from Qubic’s earlier efforts, where it briefly controlled the Monero network, to a more systematic campaign aimed at exposing weaknesses in multiple PoW-based blockchains [10].

Industry discussions are now increasingly focused on potential regulatory and technological reforms. Analysts and developers are calling for measures that promote decentralized mining and explore alternative consensus algorithms to improve network security and sustainability [11]. The incident has also reignited debates about the centralization risks inherent in PoW models, raising questions about the feasibility of maintaining truly decentralized networks in the face of such coordinated attacks.

The targeting of Dogecoin by Qubic underscores the ongoing tensions within the cryptocurrency ecosystem between network security, market stability, and innovation. While the long-term impact remains uncertain, the immediate effects on Dogecoin’s price and investor sentiment highlight the real-world consequences of such targeted actions [11]. As the Qubic community continues to push the boundaries of PoW consensus, the broader crypto industry is being forced to re-evaluate its approach to network security and governance.

Source:

[1] Monero's 51% Attacker Targets Dogecoin Next - Unchained

(https://unchainedcrypto.com/moneros-51-attacker-targets-dogecoin-next/)

[2] DOGE Sellers in Control as Monero Attacker Votes to ...

(https://www.coindesk.com/markets/2025/08/18/dogecoin-sellers-in-control-as-monero-attacker-votes-to-target-doge-bitcoin-below-usd116k)

[3] DOGE Price May Fall Like XMR After Qubic Decision

(https://www.ccn.com/analysis/crypto/doge-price-analysis-qubic-attack-dogecoin-after-monero/)

[4] Qubic Targets Dogecoin for 51% Attack Simulation as BTC ...

(https://www.ainvest.com/news/bitcoin-news-today-qubic-targets-dogecoin-51-attack-simulation-btc-drops-115-000-2508/)

[5] Qubic's Reasoning Behind Monero Attack: “A lot of electricity is burned for useless POW”

(https://99bitcoins.com/news/altcoins/qubic-targets-dogecoin-after-moneros-51-attack/)

[6] Qubic Targets Dogecoin for 51% Attack Simulation as BTC ...

[7] Qubic Targets Dogecoin for 51% Attack Simulation as BTC ...

[8] Qubic community, Monero's 51% attacker, votes to target ...

(https://www.reddit.com/r/CryptoCurrency/comments/1mt7fgp/qubic_community_moneros_51_attacker_votes_to/)

[9] Qubic's community backs Dogecoin mining in strategic pivot

(https://cryptoslate.com/dogecoins-2-daily-mining-profits-lure-qubic-after-monero-network-takeover/)

[10] Qubic community has chosen Dogecoin

(https://www.reddit.com/r/dogecoin/comments/1mtejm1/qubic_community_has_chosen_dogecoin/)

[11] DOGE Price May Fall Like XMR After Qubic Decision