Doge sellers are controlled as Monero Attacker votes to target Memecoin; Btc below $ 116k
Dogecoin
Losses on Monday as the Quubic community, which recently attacked Monero, voted to target the Dogecoin Network in Zcash and Kasha through a large margin.
At the time of writing, DOGE exchanged more than 22 cents, representing a 4% decline on a 24 -hour basis, according to CoinDesk data. Cryptocurrency released a bullish golden crossover last week, but the bullish pattern failed to inspire the bullish momentum.
Early Monday, AI announced that the Blockchain Qubic is the intent of the community to target Dogecoin in xsaying, “There are ongoing discussions about $ Doge and the preparation will take time.”
It added that “the questions around blockchain resilience are raised and we may have tools to meet them.”
Sergey Ivancheglo, the founder of the Quubic Network, asked the community vote on which applications integrated Circuit (Asic)-Enabled proof-of-work (Pow) The blockchain must be targeted to a 51% attack. From a list with Kasha and Zcash, the community voted for the Doge.
“The Qubic Community is selected by Dogecoin,” Ivancheglo, revealed in x Through his handle came-from-baby.
Quubic recently Launched a successful 51% attack on Monerogaining control of most computing strengths used to secure the privacy network.
DOGE leads to the denial of the CVD
Doge’s Futures Open-Interest-Adaptable Delta Volume (CVD) The indicator dropped nearly 1% in the past 24 hours, the largest among the top 25 cryptocurrencies according to the market value, according to Data Source Velo.
The CVD, or combined -with the volume of the delta, is a technical indicator that measures net purchase or sale of pressure in a market at a certain time. This is a running sum of the difference between buying and selling volume.
A negative CVD indicates that the sale of pressure is greater than the purchase of pressure. This means that a larger number of market participants sell a particular owner than buying it. It is often seen as a bearish signal, suggesting that the price is likely to overthrow or continue its rejection.
Most cryptocurrencies, including BTC and ETH, have a similar bearish profile. Meanwhile, the link is the only token, which boasts a positive CVD.
BTC dropped below $ 116k
Bitcoin
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The refusal follows a warmer-than-expected US producer price inflation on Friday, which weakened the case for a 50-base-point rate of September’s cut off rate. That said, the central bank is still expected to reduce the cost of borrowing by 25 points basis.
“Due to the ongoing uncertainty surrounding the key indicators of economic, the Federal Reserve has up to this day maintaining a careful stance on interest rate cuts. The recent US manufacturer price index (PPI) For July does not make it easier, “analysts told the Coinbase Institutional in a weekly report.
“However, we see this as an opportunity. We think the Fed’s final focus on the broader economic image, including the labor market, will eventually lead to 25 bps rate cuts in September and October,” the analysts added.
Some observers expect Fed chair Jerome Powell to put a premise for September moving this speech at the Jackson Hole Symposium later this week.
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