Actually, as far as cryptocurrencies go, Dogecoin has great fundamentals:
- strong community worldwide
- 1-minute block times
- $0.01 tx fees (or less if you're stingy)
- merge-mining with LTC makes network more robust
- plentiful supply makes it easier to use as a currency
I'd argue that, as far as acting as a currency goes, DOGE is superior to BTC or ETH. Its far cheaper to send, and now that its been around for 10.5 years, its firmly entrenched in the crypto landscape, which means its widely accepted compared to most other cryptos.
You are right. I think Dogecoin is one of those coins that won't go below it's current value due to its great fundamentals but rather go up in the future.
Whilst Elon Musk contributed to it's popularity, we can't argue that it's already got a potential before then.