Canine-themed cryptocurrency Dogecoin (DOGE) noticed an enormous quantity surge on the futures market, with Bitmex crypto alternate recording a 9,616% surge in futures quantity within the final 24 hours.
In response to CoinGlass knowledge, Dogecoin futures quantity got here in at $172 million on Bitmex, a 9,616% improve within the final 24 hours.
Most of the time, a surge in quantity displays merchants’ positioning, with crypto merchants making directional bets on the canine coin.
Dogecoin’s quantity surge coincides with a broader market sell-off, which noticed $1.7 billion in liquidations. DOGE was liquidated for $22 million, with longs accounting for almost all at $16.92 million.
At press time, Dogecoin was buying and selling up 2.02% at $0.165, following a three-day drop that culminated in a low of $0.151 on Tuesday. Social curiosity has additionally shifted to Dogecoin as discussions about Elon Musk sending a literal Dogecoin to the moon ignite.
Is it time?
Elon Musk replied “It is time” to a Dogecoin publish by Dogedesigner on Nov. 3, 2025, prompting hypothesis about SpaceX fulfilling a 2021 promise to ship a literal Dogecoin to the moon.
Dogedesigner tweeted: “No Highs, no Lows, solely DOGE,” alongside a screenshot of Elon Musk’s tweet in 2021 about SpaceX placing a literal Dogecoin on the moon. To this, Elon Musk responded with “It is time” and a smiley emoji.
This generated reactions throughout the Dogecoin neighborhood, with posts nonetheless being made at press time. The Dogecoin value nonetheless, posted a muted value response.
Going ahead, eyes might be on Dogecoin, confirming a bullish double backside on the $0.15 low, which could trigger its value to focus on $0.21 and $0.24 as soon as once more.