I really like Dogecoin but honestly, it is extremely overpriced right now because we should not forget a fact:
Dogecoin needs to solve a big problem: it is uncapped currently. Dogecoin has no capped supply like Bitcoin, it has infititive supply!
If DOGE solves infinite supply problem, Dogecoin can reach very high prices, but right now, Dogecoin is way overpriced because it has no cap!
The people's awareness of that infinite supply is what has held Dogecoin down even after the goodwill shown it by Elon Musk. It's that fear it would be dumped at any moment that has kept so many investors away from throwing cash into it. However, I don't believe it's overpriced the way it is if we actually look at its speed of transactions. Dogecoin has a very fast rate of confirmation way ahead of Bitcoin despite its over 129 billion already in circulation. If anything as much as can cause Dogecoin to announce burning or cap its supply we will see its price climb the roof, literarily.