I guess it is, with that announcement seems he trying hard just to increase the doge price but I don't think if he can lift it right now because the condition of the market is not really good. It seems the market will experience a big dump again.
what Elonmusk does is to always try to increase the prestige of the doge with whatever it can do, because the main goal is to want the doge to continue to improve. but I agree with you, that the situation is currently in a state of red, whatever is done can not provide a very significant boost to the doge.
the market is likely to continue to point towards the negative until now and it is not known when it will recover.