Kind of amazing, isn't it?  But I would also say that it has such a high market cap because there are so many coins in circulation due to its inflation and how long doge has been around.  It's not like doge is valued highly in terms of satoshis.  It's only trading at 30 sats right now, which is good for doge but would be really low for any other coin.

I don't know how bullish this so called momentum is, but I have my doubts that it'll last long.  With doge it seems like any positive momentum never does, and while I like it as an altcoin I wouldn't consider it a great investment.  It's a good coin for gambling and that's about it.