There just are not enough sellers left to push the market down in any meaningful way.
There is always lots of sellers available to sell and push the price down, that is the weak hands. But the important thing is that there is also a lot of buyers who would buy their coins cheap and won't let the price fall down any lower than certain levels.
For example recent weeks showed how there are still a lot of weak hands who panic sell (ie. from $40k+ down to $28k) and also there are a huge number of buyers who would be more than happy to buy bitcoin at a discount (ie. from $28k back to $34k).
It is shocking that Elon was capable of doing this. Why would anyone buy a cryptocurrency just because someone else said it. That is the power of social media and fame, like if I said people go out and buy bitcoin right now, it wouldn't change the ideas of 1 person, at best maybe I can change the mind of one person and that is best case, but this dude comes out and says doge and suddenly it skyrockets. That never made sense to me, that is not really the thing we are talking about when we talk about decentralization
Sure it is decentralized, and it could be even considered unregulated right now considering nobody cares about the ups and downs, only KYC type of stuff, which means we could have 10x in a day and nobody would say market manipulation. However what elon did was market manipulation, it was literally just him making something go up, if he had any doge, he got richer thanks to it.