Anything that leads to more adoption and use as a currency is what will drive sustainable increases in perceived value. It's pretty simple, if you want Dogecoin to be "worth more" then you just need to help increase it's use as a currency in exchanges for goods and services. The more that it can be used as a currency the more the sustained value will be here.
Spend your Dogecoin.
We have fiat for everyday use and gold as a reserve currency -> bitcoin = reserve, doge = new fiat. If you can buy things with doge, then it's value relative to things will go up. If all people do are buy and sell on exchanges it just creates hype cycles and the value diminishes over time. Although, any crypto will never replace fiat as long it has the inherent volatilty that all coins except stable coins have. Many businesses operate on 3-4% margins - if you are looking accept payment for goods in a method which could wipe out your profit the next day, you're simply never going to do it. Which is why continuing to allow people to buy goods and services with crypto is what will make it stable. Many countries fiat has been wiped out overnight rendering all of it worthless and any business profits being lost.
The difference is that a decentralized currency is not suspectable to government wrongdoing causing terminal value loss.
But yes, as long as the primary use of dogecoin is buying and selling on exchanges the value will fluctuate wildly in it's relative value to the fiat it's being traded for.