If fiat is any indication then people love monopoly money which can be printed at will regardless of the effects this may have on the economy.

So even if dogecoin should have a value of zero as people only care about the coin due to its meme coin status, there is a possibility that it could reach such a high price during the next bull run, and as long as that possibility exist speculators will keep their eyes on the coin as they do not care about anything else but the possibility of making money with dogecoin.