Ok, so people believe that DOGE is cheap right now, and they confident that investing in it make them rich. So price will go up.
More people will come and buy because they will think: "so many people can't be wrong, I don't want miss that train". Community is very strong, they mine it like crazy and they force Cryptsy to add it after only 10 days of existance. Right now market cap is 9,5 mln, you think suddenly, out of the blue they will just dump it?

@Peter Lambert
All cryptos are worthless and all started the same way but with some hype around it they suddenly scyrocket.
DOGE have army of fanatics who truly believe they can reach 3-4 market cap. This is very interesting sociological phenomenon.
Price is set up by people, right? I will just sit and wait, I don't have nothing to lose here anyway.
I know about capabilities of some alts but for most people it's irrelevant, it's all about speculation.