Actually, to be honest, bubble exist, I've been in this space since 2016 and I must tell you that the ICOs in 2017 was a bubble that alter burst, and when it did, alot of people were affected, many people huge amount of monies which could have served other purposes in their life, the ICO bubble which burst lead to the birth of IEOs cus people no longer invested in ICO cus of fear of loosing their hard earned money to scammers.
So to cut the long story short, bubble does exist, and if you hold dogecoin, pray it's not a bubble cus if it is, it will eventually burst and alot of people are gonna loose money.