The leading memecoin, Dogecoin (DOGE), has become the next target for a 51% attack by Qubic, a project building at the intersection of blockchain technology and artificial intelligence (AI).
Last week, Qubic succeeded in executing a 51% attack on the privacy-focused crypto, Monero (XMR). This move sparked worries among members on Crypto Twitter.
DOGE is Qubic’s Next Target
In a recent tweet, Qubic’s founder, Sergey Ivancheglo, also called Come From Beyond on X, hinted that DOGE is its next target. He commented when responding to rumors about ZCash being Qubic’s next focus.
Ivancheglo stressed that the Qubic community chose targeting DOGE over ZCash, Kaspa, or other cryptocurrencies that utilize ASIC (Application-Specific Integrated Circuit) mining.
Some months ago, Qubic attracted miners to join its effort to conduct a 51% attack on Monero. The privacy-focused crypto uses general-purpose computers or graphics cards (CPUs and GPUs) for mining. After a successful takeover, Qubic is focusing on cryptocurrencies using ASIC mining, starting with Dogecoin.
It is worth noting that cryptocurrencies, such as Litecoin, Bitcoin, Bitcoin Cash, and Bitcoin SV, use ASIC mining. With Qubic’s attention on ASIC-mined cryptocurrencies, there are concerns among members of the crypto community that Litecoin could be the next target. This is especially so since Dogecoin is a fork of Litecoin.
It remains to be seen if Qubic will eventually decide to attack bigger blockchains like Bitcoin Cash and the world’s largest blockchain, Bitcoin.
Impact on DOGE
Following the news about Qubic’s plan to conduct a 51% attack on Dogecoin, the leading meme token has seen a price decrease. As of the time of writing, the dog-themed memecoin has dropped below $0.2228, representing a 4.7% drop within the past 24 hours.
Its daily traded volume has also soared by over 61% to $2.98 billion. This suggests that most Dogecoin traders are likely exiting their positions on the leading memecoin before the plans for the 51% attack commence.
If matters exacerbate, investors may be wary of putting their funds into the leading memecoin. Among them are institutional investors like Bit Origin that have disclosed plans to adopt a DOGE treasury. In the long run, it may even affect Dogecoin’s leading position in the memecoin market.
Why the 51% Attack?
A 51% attack occurs when a single entity or a group collectively takes control of up to 51% of the hashrate (computing power) of a blockchain. This gives them the liberty to prevent new transactions from being confirmed, double-spend, monopolize block rewards, and more.
As Qubic continues targeting cryptocurrencies, the billion-dollar question remains, “Why is Qubic executing a 51% attack on crypto projects?”
An X user asked why Qubic is executing these 51% attacks if not for price manipulation. In response, Ivancheglo stated:
“A lot of electricity is burned for useless [proof of work], we need that electricity for [artificial intelligence]. These words may be hard to get and I cannot reveal more now, in the future they will eventually click.”
According to the Qubic founder, AI models like the project’s AIGarth require more electricity than blockchains using PoW algorithms. His comment also hints that the Qubic community will likely target more blockchain protocols using the PoW consensus mechanism.
Ephraim Emmanuel | June 8, 2026
