i think elon is not alone behind this scenes cause Whales like elon mask, mcAfee & others use their popularity and fame to manipulate market and huge impact we had seen on doge. people won't forget what mask had done to them! i dont think doge holders would like to hodl long & wait bounce back of doge, cause there is no hope as sunset of doge is already began
You have a point but when we are saying that elon is pumping/dumping the coin this is means he is very influential because of his supporters, we could say that his supporters are also one of doing it since they are following what elon is saying and then big companies or people are also doing this . A very popular and very rich person could really affect the price.