I think dogecoin is like Tron trx currently because there's nothing much happening in the project no development or something else except for the use of payment purpose and it's cheaper, of course Doge is one of the oldest coin out there and lot of projects that was created same time has long gone, example, EOS and few other coin. I think investor are all done with such project and their interest now on another pump dump projects.
Because doge is associated with Elon, many still hold on to this coin and are optimistic that they will be able to gain from this. Elon is not the creator nor the owner but the association of his name is enough to keep this memecoin afloat. He also allows doge to be used in any transaction in his company, no? Those who can afford to buy tesla can use this memecoin and I am sure due to its cheap prices, many can be interested. If Elon decides that doge can be used for X or formerly Twitter, then it can still grow even just a little. Yeah, I've seen the debates about what would be used on X, but I don't think DOGE will be used, mainly because Elon, for the most part, tries not to talk about the project again to not to be associated with it, as far as I know
Surely Doge is memecoin and it is the best memecoin. We all have seen how Doge was pumping after news of Elon. Mostly this hype made It's happen. The price already on up to the sky. It will last as memecoin it has no doubt. Though the memecoin has not much concern on crypto and most of the coin which are on the market as memecoin will lost scam. So it's better to avoid for investment.