One of the reasons why altcoins (such as DOGE) is moving up is because Bitcoin has remained stagnant for almost two months now. Short-term investors are losing their patience with Bitcoin and are focusing their attention to smaller coins such as DOGE. But there is no guarantee that this situation will last for long. They will go down once more, when the next Bitcoin rally occurs.
if you check out the DOGECOIN holder then you may be surprised. that most of the DOGECOIN holders in bulk and do not sell them.
they come from several communities and are also Dogecoin miners. to be honest the doge community is huge. Doge is indeed a coin meme, but look at how Dogecoin performs in the market which can make a good pump because of the news circulating in the community.