I have never heard the reason ELON MUSK put forward like yours. He has other reasons behind the increasing price of Dogecoin, one of the reasons elon musk I read on his Twitter was because he likes Dogs and Memes. Doesn't the doge symbol represent the dog in its logo? that's why Elon musk liked Dogecoin and pumped it.

https://twitter.com/elonmusk/status/1364564687396872193?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1364564687396872193%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Finet.detik.com%2Fcyberlife%2Fd-5481730%2Felon-musk-ungkap-alasannya-dukung-dogecoin-gila-gilaan

Then about the price that does not last long, it is also caused by many people who only think about profit, but what they do is also not wrong.