If I'm correct, it's almost the same thing with bitcoin? It reached 0.01$ once but since then, its price is decreasing.
Low demand + unlimited and huge supply. It will always go down as long as these two conditions hold.
The demand is low because it is not something unique or has something interesting. (other than being a meme coin)
It might jump and surprise everyone though.
It did a few times before when nobody was expecting it.
I only have a few Doge coins now in it's heyday I used to accumulate thousands of it, I love the community and there were a lot of merchants back then and they even sponsored a drag race if I remember, this is the real meme and hype coin of old, volume is still high I will not be surprised if Dogecoin is still here in the next five years.