Doge is the dumbest, smart investment a person can make.

Or was early on, if you could understand the trend. Doge had Robinhood exposure and took advantages of the residual effect of the GameStop price pump.

Doge is ponzi in nature, without a doubt. The model is consistent in that it requires new capital inflows constantly to keep it moving up, and the exposure/GME constituency overflowed into what we see now.

It won't happen again. That ship has sailed, and these new coins trying to replicate the doge effect won't amount to anything. You may see some small gains in the 80x - 100x range, but that will still feature the top 10% of investors taking money from bottom 90% who got in after them.

Doge survives because of it's rabid HODLers initially, Elon Musk's marketing efforts, and new participants in the crypto community who don't understand the complexities of utility tokens with value other than Greater Fool Theory - investing with the primary motivation of trading the asset after purchase for higher than the initial investment.

Crazy phenomenon.