I haven't a clue what will happen with Doge (I don't own any).  

The good
The number of subscribers to reddit.com/r/dogegoin is very impressive (over 18k right at this time).  I've always used that as a metric for measuring 'real' bitcoin growth, so I take that number quite seriously.  

It is also intriguing to watch what happens when you put viral marketing memes with crypto, that's a nifty mix, and who knows, there could be another round of virality to come.  Bigger media outlets could report about the doge madness, seeing as it's a pretty wacky story, I could imagine wired, io9, techcrunch, boing boing etc writing about it if they haven't already, and maybe more mainstream outlets (I saw tech crunch already wrote about the doge wallet hacking).  Also on the plus it has brought in a lot of new people into crypto.

The bad
I do find it an annoying meme though, in that to me it's not funny at all, although I find it amusing how a meme-coin can take the piss out of money, the actual 'doge' meme is stupid and doesn't exactly help anyone use proper communicative English.  Stupid memes like this lowers the quality of the internet, plus I mean, "doge" should be spelt "doggy".  And there's no innovation on bitcoin at all.

All in all I don't particularly like it due to the stupidity of the meme, but it is weird and wonderful in it's own sort of way.  I've been considering buying a few today but it would be a total gamble so I've decided not to (for now).