Dogecoin Price Tumbles as Hashrate Plummets to 32% of Record

The Dogecoin price has been trading at $0.0960 on Friday morning, around 4 percent below the round $0.10 mark. The developer house DogeOS has opened a public testnet meant to bring lending and trading applications to Dogecoin, and the computing power securing the network has fallen to about a third of its record.

The testnet currently runs with a permissioned sequencer, meaning an access-restricted operator that sets the order of transactions, alongside validators and a secured execution environment. Any change of state requires a valid proof, the signature of a majority of validators, and the signature of that environment.

The proposal to turn that supervised operation into an open system is called OP_CHECKZKP, which would allow Dogecoin nodes to verify the mathematical proofs of the application layer directly. However, a standalone implementation exists as a draft, and there is no activation date.

The hashrate has fallen sharply over the year, from an all-time high of 8.72 petahash on February 23, 2026, to around 2.80 petahash on October 2. The current reading equals roughly 32 percent of the record.