$2 seems extreme but I think DOGE is the only currently existing alt coin to have a chance of going anywhere. Their community has done more work in less time to spread the coin and get it into use than just about any other alt. I think the meme has been tired for some time now but people keep sticking with it since it seems to have some momentum. I'm not holding any DOGE currently, just mining and selling it, but I think it has a better shot at broad usage than even litecoin.

All that said, I don't know if the valuation has the degree of upside that some people hope. I think a realistic best case would be for it to become the internet's preferred tipping and anonymous small transactions currency rather than anything bigger. Even if it reaches that level of ubiquity, we're still talking about a relatively small market. Never in my lifetime will I buy a pack of bacon (Mmmmm) with DOGE or with bitcoin for that matter.