It is undeniable, but you should also know that coins like Dogecoin have always been able to survive in the cryptocurrency market without the help of hype from ElonMusk (Tesla's CEO) even at very low prices, and now Dogecoin no longer has the great hype it used to have happened a few months ago.
One thing everyone needs to accept is that the constant shilling of Elon Musk had a major change in the market as he was able to grab attention from investors outside the cryptocurrency space and i used Dogecoin to gamble and after the shilling i am no longer able to use them like i wanted to and i was perfectly happy if the valuation was low as long as i am able to use them for fun.