Qubic Shifts Focus to Dogecoin After 51% Attack on Monero
Qubic, the AI-driven blockchain protocol that recently launched a 51% attack on Monero, has now shifted its attention to Dogecoin. The decision came after a community vote where participants agreed that Dogecoin should become the next target. The move sparked concern among developers and miners who questioned the resilience of the meme coin’s network.
Dogecoin operates on a proof-of-work model similar to Bitcoin and Litecoin. This makes it vulnerable to coordinated computational attacks, particularly from groups with concentrated hash power. Qubic’s public declaration intensified the debate on whether Dogecoin can withstand organized threats.
Mining Profits Make Dogecoin a Prime Target
Qubic’s interest is not arbitrary. Dogecoin miners collectively generate around $2.3 million in daily profits, according to recent estimates. This figure places the coin among the most lucrative proof-of-work networks after Bitcoin. The profitability has attracted Qubic’s community, which seeks to apply its “useful proof-of-work” model by redirecting computing power to networks it can potentially dominate.
By targeting Dogecoin, Qubic aims to test whether its framework can disrupt high-value mining ecosystems. The group’s earlier success against Monero demonstrated its ability to mobilize resources quickly, raising questions about Dogecoin’s preparedness.
Grayscale Pushes Ahead With Dogecoin ETF Filing
While Qubic focuses on Dogecoin’s vulnerabilities, institutional interest is rising from another front. Grayscale has submitted an application for a spot Dogecoin ETF, named GDOG. Industry observers estimate the proposal has a 75% chance of approval under current U.S. regulatory conditions.
The ETF filing highlights Dogecoin’s growing role in mainstream finance. Approval would provide regulated exposure for institutional investors and expand the asset’s presence in capital markets. Combined with ongoing whale accumulation and technical developments such as a golden cross, the filing reinforces Dogecoin’s relevance beyond its meme origins.
The simultaneous developments illustrate the dual forces shaping Dogecoin today. On one side, Qubic’s targeting introduces security risks that could challenge network stability. On the other, Grayscale’s ETF filing suggests institutional players increasingly recognize Dogecoin as an investable asset.
The contrast underscores how Dogecoin, once dismissed as a joke, now sits at the center of both speculative and institutional agendas.
Dogecoin Charts Signal Bullish Pennant Breakout Ahead
The DOGE/USD chart, created on Aug. 19, 2025, shows Dogecoin trading at $0.21796 against the United States dollar on Coinbase. The four-hour timeframe highlights a consolidation phase after a sharp upward move earlier in August. The price currently sits below the 50-period exponential moving average at $0.22818.
Two purple lines mark converging resistance and support, forming a symmetrical triangle that leans toward a continuation of the previous uptrend. This structure, combined with the strong rally that preceded it, resembles a bullish pennant pattern.
A bullish pennant pattern forms when prices surge sharply, then consolidate within narrowing trendlines before breaking out again. Traders view this as a pause in momentum rather than a reversal. The preceding rally acts as the “flagpole,” while the consolidation triangle represents the pennant. When the breakout confirms, the projected target often matches the height of the flagpole added to the breakout point.
In Dogecoin’s case, the strong rally from early August created the flagpole. The current narrowing range reflects buyers and sellers reaching equilibrium. However, with higher lows forming under the purple support line, momentum remains biased upward.
Upside Potential and Target Projection
If Dogecoin confirms the breakout, the price could rise by about 36 percent from the current level. This would project a move toward $0.29788, aligning with the next key resistance visible on the chart. The measured target comes from applying the pennant breakout method, which adds the height of the initial surge to the breakout level.
Trading volume supports the pattern, as activity has declined during the consolidation. A breakout above the 50-period exponential moving average would provide early confirmation, while a surge in volume would reinforce the bullish signal.
The pennant forms at a time when Dogecoin’s broader narrative extends beyond technical charts. Developments such as Qubic targeting Dogecoin’s network and Grayscale’s application for a spot Dogecoin exchange-traded fund have placed the asset in focus. These external factors could amplify volatility once the technical breakout occurs.
Dogecoin therefore stands at a technical and fundamental crossroads. A confirmed pennant breakout would signal renewed strength, potentially lifting the coin toward the $0.30 mark for the first time since early summer.
Dogecoin RSI Points to Weakening Momentum
Dogecoin’s Relative Strength Index (RSI) chart dated August 19, 2025, shows the indicator at 38.67, while the moving average line stands at 46.59. The RSI tracks the pace of price changes to determine whether an asset is overbought or oversold. Values above 70 signal overbought conditions, while readings below 30 suggest oversold levels.
At its current level, Dogecoin’s RSI leans closer to the oversold boundary than the neutral midpoint. This indicates that sellers have dominated recent sessions, applying pressure on price action. The divergence between the RSI line and its moving average also confirms weakening momentum, as the index falls below the smoothing line.
If the RSI continues to decline toward 30, Dogecoin could enter oversold territory, often a precursor to short-term volatility. However, a rebound above the moving average near 46.59 would suggest renewed strength, potentially aligning with a broader recovery in price. The current reading therefore highlights a cautious phase where further losses remain possible, but the setup also leaves room for a reversal should buying pressure return.
Dogecoin MACD Signals Bearish Pressure
Dogecoin’s MACD chart, created on August 19, 2025, shows the blue MACD line at -0.00325 crossing below the orange signal line at -0.00185. The histogram also prints red bars, reinforcing negative momentum. The MACD measures the relationship between two moving averages of an asset’s price, with the signal line acting as a trigger for buy or sell signals.
Currently, the MACD’s downward cross signals bearish sentiment, as momentum tilts toward sellers. The decline into negative territory highlights the loss of recent bullish strength, aligning with the weakening RSI shown earlier. In past cycles, such crossovers have often preceded further declines or extended consolidation before recovery.
Despite the bearish reading, the histogram shows relatively smaller red bars compared to previous sell-offs, which suggests selling pressure is present but not yet accelerating. A narrowing of the histogram would indicate momentum stabilizing, while a shift back into green bars would mark an early sign of renewed buying strength.
Together, the MACD and its histogram reveal that Dogecoin faces short-term downside risk. If the MACD line diverges further below the signal line, price weakness could extend. However, if the lines converge and a bullish crossover emerges, Dogecoin could regain momentum, potentially confirming the bullish pennant breakout projected in the price chart.