Dogecoin Under Siege: The Shocking Truth Behind the Attack

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Well, bless my soul, it seems the Dogecoin folks are fixin’ to saddle up and ride into battle. Yessir, after a week of whispers and chatter, the AI-driven Qubic bunch-them rascals who recently had a go at Monero-have decided to make DOGE their next target. 🐶💥

“BREAKING: Dogecoin Hashrate has just hit an all-time high!” 🚨

Is The Dogecoin Network Prepared?

The immediate cause of all this hullabaloo is Qubic’s community poll two weeks ago to focus its resources on DOGE next, following its Monero campaign. Analysts framed the ballot as a direct threat to DOGE, though Qubic’s messaging jumped between “attack” rhetoric and claims it merely intends to “mine for profit.” 🤑

Former IOTA co-founder and Qubic leader Sergey Ivancheglo, aka Come-from-Beyond (CFB), posted on August 18 via X: “It’s becoming ridiculous, the Qubic community voted on *mining* Dogecoin, not on *attacking* it…,” adding “preparation to mining Dogecoin requires months of development, the Qubic pool is mining Monero during this period.” 🛠️

What’s clear as day is that Qubic rallied enough coordinated hashpower to give Monero a fright and then publicly named DOGE as its next proving ground. 🎯

Context is key: During the attack, there was an alleged six-block reorganization on the Monero blockchain, orphaning around 60 blocks. However, it’s still up for debate whether Qubic’s action qualified as a successful 51% attack. Nevertheless, Kraken paused XMR deposits as a precaution when the single pool supposedly crossed 50% of hashrate, then re-enabled deposits under a stringent 720-block confirmation regime-an extraordinary friction cost meant to blunt the risk of chain reorganizations. 🔗

Against that backdrop, Dogecoin’s raw compute power surged. Depending on the estimator and sampling window, DOGE’s Scrypt hashrate pushed to fresh records on Wednesday. BitInfoCharts tracker showed intraday read a new all-time high at 2.948 PH/s. The directional takeaway is clear: miners are pointing more Scrypt ASIC horsepower at DOGE right now than at any prior time. 💪

Structural factors also cut differently for DOGE than for Monero. Since 2014, Dogecoin has shared security with Litecoin via auxiliary proof-of-work (merged mining), meaning the same Scrypt ASIC fleets that secure LTC can simultaneously commit Dogecoin blocks. That broadened miner base and the industrial-scale nature of Scrypt ASICs raise the bar for any would-be majority attacker-one reason a direct 51% campaign on DOGE is much harder than on a CPU-oriented chain like Monero’s RandomX. 🛡️

At press time, DOGE traded at $0.22. 💰

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2025-08-28 13:22