This is a meme coin
It is supported by people that like online jokes, pranks... and dogecoin is not exclusive. To me the coin ( dogecoin) is receiving over hype and that all it get, apart for the Elon shilling I see no real potential in dogecoin, to me dogecoin is a bubble that can burst at anytime.
Many people think the same, but for beginners who are also fans of Elon, this is a very serious coin.Only lately she hasn't been reacting much to his statements.Apparently trned is coming to an end.
Actually Doge coin is a joke coin, but in the previous year Doge coin was very lucky because Elon Musk did FOMO for the coin so that it was able to push its price movement until it reached ATH at the $0.68 level, so if Elon Musk no longer promotes the Doge coin then it looks like the coin price will not can rise to a higher level because all this time we must have realized that without Elon Musk the Doge coin is just a joke coin.