I have been wondering the same things lately. I was talking with a buddy recently and we both agreed that the likelihood doge coin ever reaches its ATH/all time high is pretty much zero. We were taking about the same thing, this crash is good in the way that it should prove that most coins are worthless with zero utility. However I’m afraid there still are too many people who just can’t see this.
people are hopeful especially those holders. you can't blame them, because in this market, we have seen a lot of surprising movements even if there are no valid reasons behind such movements. though the likelihood for doge to reach its ATH again is very small, but we can't totally disregards its possibility. but if you feel there's no hope, you can always opt not to buy this coin. anyway, there are so many valuable coins that you can take a look at.
if there weren't bigger whales to pump doge on, i think it's unlikely to return to the previous ath, doge is like a permanent coin for big financiers that can affect a lot of people. since Elon Musk flew Doge to the moon, until now there has been no further statement from him, maybe he will look at other meme coins, or have other strategies, because I think if it's only from the community, I think it's difficult to penetrate the new ath, but no one knows in the future, maybe there will be fomo news on doge, and make a different story on his journey