On Elon Musk's Live Weekend, Dogecoin topped the Liquidation Charts.

Many who predicted an eventful weekend for dogecoin (DOGE) were proven right as the token hit an all-time peak before plummeting spectacularly – with major sell-offs following Tesla and SpaceX CEO Elon Musk (jokingly or not) referring to the token as a "hustle."

According to Bybt numbers, nearly USD 151 million worth of DOGE derivatives trading positions have been liquidated in the last 24 hours, more than any other token except ethereum (ETH) (USD 172 million) and bitcoin (BTC) (USD 169m). Although DOGE is almost on par with BTC and ETH, no other altcoin has seen almost as much liquidation in the last 24 hours – the fourth-placed token on the liquidation stakes was EOS (EOS), with a paltry USD 26 million.

Prior to the weekend, Musk had warned of both fun and possible trouble, reposting a DOGE-themed video and saying,

“Cryptocurrency is promising, but please invest with caution!”

DOGE reached a new all-time high of USD 0.73 on Saturday (per Coingecko), then plummeted to USD 0.43 on Sunday (UTC time), before recovering slightly. DOGE is currently trading at USD 0.547 at 07:54 UTC, up nearly 3% in one day. In a week, the price had more than doubled, and in a month, it had increased by 791 percent. In a year, it has increased by 21,162 percent.

Barry Silbert, the founder and CEO of the Digital Currency Group, wrote ominously:

“Okay DOGE peeps, it’s been fun. Welcome to crypto! But the time has come for you to convert your DOGE to BTC.”

Silbert, who founded the Grayscale Bitcoin Trust, also revealed that the firm had “gone short DOGE” with a new offering on the FTX website, which was characterized as “an ERC-20 token that seeks a return that correlates to -3 times the regular return of dogecoin” by its creators.

After saying earlier in the weekend that it will be "all paws on deck, all weekend," the trading platform Robinhood said it suffered many "high trading and volatility"-related slowdowns following Musk's presence on Saturday Night Live.

Meanwhile, in a skit, Musk portrayed “Financial Expert Lloyd Ostertag,” asking to be called the “Dogefather” and repeating a variety of DOGE-related phrases. He then went into great detail about DOGE, eventually stumbling when asked repeatedly, "What is dogecoin?"

Eventually, his character was challenged to answer the question: “So it’s a hustle?” Here, Musk’s character conceded:

“Yeah, it’s a hustle.”

Musk used a DOGE-themed joke in his opening monologue, with his mother joining him on stage to say, "I hope my Mothers' Day present isn't dogecoin."

Which elicited a response from Musk:

“It is! It sure is!”

In any case, Musk's odd love affair with DOGE seems to be far from over, as his SpaceX commercial spaceflight company announced over the weekend that a DOGE rocket will be launched to the moon next year. Quite literally.

According to Bloomberg, SpaceEx will launch a cubesat-type science mini satellite with Geometric Energy of Canada in a deal entirely financed by dogecoin payments – but neither party disclosed the amount.

The media outlet quoted Geometric as stating,

“DOGE has proven to be a fast, reliable, and cryptographically secure digital currency that operates when traditional banks cannot and is sophisticated enough to finance a commercial Moon mission in full. It has been chosen as the unit of account for all lunar business between SpaceX and Geometric Energy and sets precedent for future missions to the Moon and Mars.”

DOGE-1 is the name of the flight, which will launch a 40kg cubesat on a SpaceX Falcon 9 rocket.

On Twitter, Musk reported the story, writing:

“First crypto in space. First meme in space. To the mooooonnn!!”