Key Notes
- The community selected Dogecoin as its next target through a public vote while framing the attacks as “stress tests” of its useful proof-of-work model.
- The Monero incident caused Kraken to halt deposits and reignited concerns over the security of proof-of-work systems.
- Amid Grayscale filing for a spot Dogecoin ETF, analysts predict a 170% breakout in Dogecoin price to $0.6533.
Following the 51% attack on privacy blockchain Monero last week, the latest chatter is that the Qubic community is now targeting Dogecoin.
Sergey Ivancheglo, the project’s founder, announced the update on Aug. 17 following a successful attack on Monero. In a public vote, the Qubic community chose Dogecoin over Zcash and Kaspa, garnering over 300 votes.
Last week, the Qubic community reorganized six blocks within the Monero blockchain network in the 51% attack. Soon after, Ivancheglo invited the Qubic community to select another ASIC-enabled proof-of-work network as the next target, with Dogecoin on its radar.
The #Qubic community has chosen #Dogecoin. pic.twitter.com/EnevIZUAw5
— Come-from-Beyond (@c___f___b) August 17, 2025
Although Monero remained operational, the incident prompted Kraken to suspend deposits, sparking concerns about further disruptions. The Qubic community has said that its actions are nothing but a “stress test” aimed at highlighting the resilience of its mining model, called useful proof-of-work.
Earnings from the mining pool are allocated to purchasing and burning QUBIC tokens. While the project claims it has no intention of disrupting Monero or Dogecoin, the experiments have sparked renewed concerns over the security of proof-of-work systems.
DOGE Price Tanks 4.5%
Following the rejection at $0.255 last week, the DOGE price has once again been under selling pressure. DOGE trades 4.5% down today, at $0.22.
Moreover, the daily trading volume for Dogecoin has surged by 53% to $2.87 billion, showing strong bearish divergence. Popular crypto analyst Ali Martinez noted that the Dogecoin price is currently consolidating in a triangle. A breakout could lead to a 30% move in either direction.
Dogecoin $DOGE consolidates in a triangle. A 30% breakout could follow! pic.twitter.com/aCruh88NHu
— Ali (@ali_charts) August 17, 2025
On the other hand, with Grayscale submitting its S-1 filing for a spot Dogecoin ETF, market optimism around the meme coin has surged significantly. As a result, the DOGE open interest also surged to a massive $4 billion.
Another popular crypto analyst, Javon Marks, stated that Dogecoin is maintaining higher lows, signaling the potential for a major continuation move toward the breakout target of $0.6533.
According to Marks, this target remains in play following a sustained breakout pattern. If achieved, Dogecoin’s price could surge by over 170% from current levels. A move beyond that could potentially trigger a further rally to $1.25.
With $DOGE continuing to hold Higher Lows, sights are still on a major continuation move towards the $0.6533 breakout target!
With this target being in play due to a holding breakout, prices of Dogecoin can climb over 170% from here to reach it, and a move above brings ~$1.25 in… https://t.co/0vpzWxxdEL pic.twitter.com/6hC347PL2R
— JAVON⚡️MARKS (@JavonTM1) August 18, 2025
Degen Meme Coin Maxi DOGE Hits $1.1 Million Fundraise
Amidst the high Dogecoin trading activity, the degen meme coin Maxi Doge is capturing investors’ attention, having raised over $1.1 million in funds. This is a significant milestone, as it occurs within a month of the launch, highlighting strong investor interest.
This makes it one of the interesting crypto presales in the market. Maxi Doge is a dog-themed memecoin aiming to capitalize on the 2025 memecoin trend, following in the footsteps of popular tokens like Dogecoin (DOGE), Bonk (BONK), and Shiba Inu (SHIB). Branded as Doge’s “frustrated but ripped cousin” with ambitions of creating generational wealth, the project combines satire with a competitive approach to meme coin culture.
The token provides utility through staking rewards, membership in an exclusive trading group for top alpha hunters earning MAXI, and plans for partnerships in perpetual trading markets. Its concept is rooted in the idea that if traditional dog-themed tokens can thrive, a bolder, more satirical alternative could stand out.
Project Details:
- Ticker: MAXI.
- Chain: Ethereum.
- Token Price: $0.000252.
- Amount Raised: $1,168,645.42.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.