The coin was created as a joke. However, Dogecoin doesn't have any characteristics of a fake cryptocurrency. The technology is just as sound as Bitcoin's, as it's basically a fork of a fork of a fork with no crazy major changes. Logically, from a technical perspective, you can't think Dogecoin is a joke without also thinking Bitcoin is a joke, unless you disagree with the way Dogecoin changed the block parameters. Bashing it as a "meme" is orthogonal to any technical argument you could make about it.