Latest Qubic (QUBIC) Price Analysis

TLDR Qubic (QUBIC) rose 1.50% over the past 24h, underperforming the broader crypto market (+4.24%). The uptick appears driven by short-term technical buying and attention from its community vote to target Dogecoin, despite broader skepticism about execution risks.

1. Dogecoin Targeting Buzz – Community voted to redirect mining power toward DOGE after Monero attack, raising speculative interest.
2. Technical Rebound – Oversold RSI conditions triggered buying near $0.0000026 support.
3. Token Burn Momentum – Qubic’s mining rewards-to-burn mechanism reduced circulating supply by ~$59k daily during Monero dominance.

Deep Dive

1. Dogecoin Targeting (Mixed Impact)

Overview:
Qubic’s community voted on August 17–18 to prioritize Dogecoin mining after its controversial 51% attack on Monero. While DOGE’s merge-mined structure with Litecoin makes a takeover highly improbable (combined hashrate ~6.25 PH/s vs. Qubic’s ~2.32 GH/s), the move sparked debate about proof-of-work security and Qubic’s disruptive potential (CoinTelegraph).

What this means:
The vote signals Qubic’s ambition to challenge larger networks, attracting speculative traders. However, analysts note that capturing even 1% of Dogecoin’s hashrate would require resources exceeding Qubic’s current capacity by ~11,000x, making follow-through unlikely.

2. Technical Rebound (Neutral/Bullish)

Overview:
QUBIC’s 7-day RSI hit 34.98 (near oversold) on August 21, coinciding with a bounce from the 30-day SMA ($0.00000259). The MACD histogram (-0.0000000458) shows weakening bearish momentum.

What this means:
Traders likely capitalized on oversold conditions, though resistance looms at the 7-day SMA ($0.00000290). Volume rose 65% to $11.5M, suggesting short-term conviction, but remains below the 90-day average.

3. Deflationary Tokenomics (Bullish)

Overview:
Qubic burns 50% of profits from Monero mining (estimated $59k/day during peak dominance) to buy and destroy QUBIC tokens. This reduced net supply inflation to 0.03% daily in August vs. 0.12% in July.

What this means:
While the burn rate has slowed since Qubic lost Monero hashrate dominance post-August 12, the mechanism provides structural support against sell pressure from miners.

Conclusion

Qubic’s 24h gain reflects a technical rebound amplified by narrative-driven trading around its Dogecoin ambitions, though fundamental risks loom. The token’s 28.57% 30-day gain suggests longer-term holders remain engaged with its proof-of-work innovations.

Key watch: Can Qubic sustain mining profitability above $1.35/day/CPU (current rate) to maintain its deflationary burn mechanism amid falling XMR revenues?

TLDR
Qubic’s price fell 9.57% in the past 24h, underperforming the broader crypto market (-0.38%). Key drivers include security concerns over its Dogecoin-targeted mining plan, profit-taking after its first halving, and bearish technical signals.

1. Dogecoin Mining Threat – Qubic’s community voted to mine DOGE, sparking fears of a 51% attack and market backlash.
2. Halving Sell-Off – Qubic’s first halving triggered short-term profit-taking despite long-term scarcity benefits.
3. Technical Weakness – Bearish momentum signals (RSI, MACD) aligned with broader crypto risk-off sentiment.

Deep Dive

1. Dogecoin Mining Plan (Bearish Impact)

Overview:
Qubic’s community voted to mine Dogecoin after its controversial 51% attack on Monero, raising fears of similar disruption to DOGE’s $35B network. While Qubic claims this is a “proof-of-concept,” Dogecoin’s merge-mined structure with Litecoin makes a takeover highly improbable.

What this means:
The announcement triggered panic selling in both DOGE (-5%) and QUBIC, as traders priced in potential regulatory scrutiny and reputational damage. Qubic’s aggressive strategy risks alienating miners and investors wary of centralization threats to established chains.

What to watch:
Whether Qubic scales back its Dogecoin mining plans or faces exchange delistings due to perceived network attacks.

2. Post-Halving Profit-Taking (Bearish Impact)

Overview:
Qubic completed its first halving on August 19, reducing block rewards to increase scarcity. Despite this bullish catalyst, the price dropped 9.57% as traders sold the news.

What this means:
Short-term holders likely liquidated positions after the halving hype, amplified by Qubic’s high 90-day returns (+89.08%). The 24h turnover ratio of 0.0216 confirms thin liquidity exacerbated the sell-off.

What to watch:
On-chain metrics like burn rate and miner activity to gauge long-term supply/demand balance.

3. Technical & Market Sentiment (Bearish Impact)

Overview:
Qubic’s price broke below key Fibonacci support at $0.00000264 (50% retracement level). The MACD histogram turned negative (-0.000000015371), signaling bearish momentum, while the 24h RSI (56.51) cooled from overbought levels.

What this means:
Technical traders likely accelerated selling as Qubic underperformed Bitcoin (+58.73% dominance) and Ethereum (+13.39% dominance) during a risk-off altcoin market (Altcoin Season Index at 41, down 25% monthly).

Conclusion

Qubic’s drop reflects a mix of project-specific risks (controversial mining strategy) and broader headwinds (post-halving volatility, altcoin weakness). While its long-term compute-powered AGI vision remains intact, the aggressive Monero/DOGE campaigns have introduced short-term uncertainty.

Key watch: Can Qubic stabilize above the 200-day EMA ($0.00000186) to avoid a deeper correction? Monitor mining profitability reports and DOGE network stability for directional cues.