The Qubic community voted to target Dogecoin for mining tests, just after they launched a 51% attack on Monero. This has caused quite a stir, with DOGE's market cap exceeding 35 billion dollars, directly caught in the crossfire.

I believe this is not just a prank; the Qubic team wants to prove the vulnerabilities of PoW networks. If Dogecoin, as the leading meme coin, really gets affected, the market panic index will skyrocket.

In conjunction with the news of Kraken suspending Monero deposits, this operation may alert more on-chain projects, leading to increased short-term price volatility for DOGE.

In the long run, this could drive the transition from PoW to PoS, and investors need to closely monitor changes in Dogecoin's hashrate. If something does happen, it would be wise to reduce positions and hedge.