Hype, the billionaire was making it even worst by shilling this meme coin. That was triggering so many people massively buying this coin. Remember that musk has more than 50 million followers around the world and you can imagine how big it can give impact to the doge coin. even his tweet was also giving a lot of impact to the price of crypto.
Doge was meme coin and it doesn't have usability but it was selling the hype to get into this point. that's why crypto was a high risk market coz even a meme coin can moon.