Dogecoin drop becos Qubic 51% attack threat; Maxi Doge dey gain
Dogecoin drop over 9% for few hours and still drop over 4% after Qubic community vote to run 51% attack, e be like the exploit wey happen recent for Monero. Santiment’s NPL data show di biggest net outflow since July 2022, while Coinglass report long-to-short ratio of 0.79, wey mean say traders dey more bearish. For di 4-hour chart, DOGE dey trade below e 10, 20, 50 and 100 EMA, key support dey for $0.18864 (200 and 400 EMA); if e break, fit cause further 14% correction. But for daily chart, e still dey above 50 EMA, meaning say long-term bullish potential dey but e still need confirmation. Amid all dis wahala, traders dey move to presale meme coin Maxi Doge (MAXI), wey claim say e immune to PoW-based attack, e get audited smart contracts, no minting or blacklist functions, zero-tax trading and dynamic staking rewards.
Bearish
Di threat wey Qubic community wan do 51% attack and the sharp 9% intraday drop don make bearish feeling strong for DOGE. Important technical levels for the 4-hour chart dey under pressure, and e fit go down reach $0.18864 support. Santiment record net outflow and Coinglass low long-to-short ratio dey show the kind panic wey happen during past network attack like Monero wahala. For short term, traders fit still dey sell their DOGE position, this go increase market shakiness. For long term, DOGE still dey above im daily 50 EMA, but to recover well, e need clear bullish signals and better on-chain fundamentals.