Dogecoin ($DOGE) has seen a significant surge, rising over 32% in the last 24 hours and surpassing a $17.5 billion market cap. This comes amid a broader rally in memecoins, with $DOGE futures hitting a record $1 billion in open interest, a sign of strong trading interest and expectations for further increases. The open interest in $DOGE futures surged over 54% in just 24 hours, with data indicating that 70% of traders are taking long positions, expecting the price to go higher. Other memecoins, including $BONK, $PEPE, and $FLOKI, have also experienced substantial gains, with increases of 50%, 50%, and 45% respectively. This trend is part of a wider bull market in cryptocurrencies, with Bitcoin rallying to $63,000 and all assets in the CoinDesk 20 appreciating, notably meme coins $DOGE and $SHIB with gains of 49% and 41%. The resurgence of memecoins alongside Bitcoin is viewed as a sign of a returning crypto bubble.