I started believing in Dogecoin a couple of weeks ago when I sold some PCIe risers to someone off of Craigslist.
When I met him he said that he kinda followed Bitcoin but never really got into it. Then he said he was so pumped about Dogecoin that he just had to go out and buy a mining rig so he could get his hands on some DOGE. He bought 8 risers from me, and had a car full of equipment... for Dogecoin. Not Bitcoin or Litecoin, but Dogecoin.
Personally, I still don't get it but it clearly has much wow and such appeal.
I think I get it. There's been a large influx of people in December who think (or know?) that they've kinda missed the bitcoin bus. No point getting excited about bitcoin if you're new. Dogecoin was a chance to be in on the ground level of something that could be big.
And also, there were enough coins to go round for even the smallest of miners. Owning 1,000,000 DOGE is a LOT more exciting than owning 1.59 BTC. That's probably also why kittehcoin and mooncoin are doing so well right about now. People like to have lots! It's not just about the $ value, it's also about feeling good about what you're doing (IMHO).