The most popular memecoin increased very big, the price soared more than double in the past days. Many people criticize the project because it started as a joke, but actually, it has a really strong community. They are relatively active because Dogecoin itself easy to use, cheap, and fast. And from time to time, there are mad pumps.
In the wider crypto community, DOGE is a kind of indicator. People predicted the direction of the alt market, based on the behavior of DOGE. When DOGE rises, the alts will follow. An of course, when DOGE falls, alts will bleed. This is rather a “common opinion” than an exact fact, but this doesn’t bother the community to cite the several graphs as evidence.