The significance of the play's title is related to both Martin's waking life and his spiritual dream life. In actuality, Martin's father used to take Martin to the dock to watch the moonfish feed in the moonlight. Martin remembers their lunar appearance and associates them with warm memories of time spent with his father. After Martin's father's suicide, Martin returns to the dock to see the moonfish as a worldly reminder of his dead father, but the fish also serve as symbols of Martin's dreams.

The moonfish come out only at night, as do most dreams, and the fish tell Martin that anything that he wants to have happen will happen as long as he paints the pictures. This signifies the merging of Martin's wishes in his dreams and the images of his memories. The moonfish are a thread between Martin's memories and his dreams...