doge has:
- liquidity
- celeb endorsement
- underdog likeability (gives it a novice/ blue collar/ degen appeal)
- cute mascot
- affordability
- no negative connotations from the media
- social media cults / tons of memes / marketing
- survived the bear market & been around just as long as these other coins
The joke isnt that it was made for memes anymore, that was 2017.
the joke since 2019 has been, "it would be crazy if people got rich off of this". since most "sophisticated investors" wont touch it, it becomes the instagram to last generations myspace/facebook in a crypto sense. new investors want cheap, endorphin rushing gains & thrills, and dont have fundamentals of when to buy and thats why people are buying it, when its at the top or trending.
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The only reason doge still have some value is Elon as well as other celebrities. All of the above with the bullets that you mentioned have nothing to do with why people are buying.
A prime example of that is when elon tweeted about btc and then in less than 24 hours, its price pumped 20%. And we are talking about a coin without liquidity, cute mascot, affordability.
In other words the vast majority don't care about things that they should have, like the coins actual purpose, what problem does it solve, the tokenomics behind it etc etc. At the same time I don't think that Elon is just trolling and having some fun but instead i believe he holds a lot of doge. Thus, with his tweets, he is basically becoming richer and richer.
I really hope that people become rich out of doge but at the same time i don't want them losing money and start blaming all cryptos for that
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