lol its not as bad as everyone is making it look! what innovation did dogecoin have? the ipo is a little overpriced but I think investors will still get good return on the price. as the ipo is going.......about half the coins should be unsold and destroyed....so the IPO price is not that bad for a 900,000 coin total supply! I would invest and take profits!
Dogecoin wasn't an ipo, nor was it especially expensive on exchanges either. It may not be the best comparison (and isn't doing particularly great now either).
The best coins to compare to are recent ipos on poloniex or bittrex. All had much lower numbers of coins, and in XBC and XLC's case, a dev who walked out with the money as soon as the ipo was over. Each coin had to find new development teams (XBC's new team looks good, not so sure about XLC yet). Both LCL and XLC sunk below ipo prices rather quickly.
So basically this is an overpriced ipo, for a coin with no special features, sold without any real guarantees, and seemingly rushed onto an exchange from an unknown dev. The coin has a silly name, as an extra bonus. If it wasn't an ipo on poloniex, I expect nobody would pay attention to it at all.
This may seem overly harsh, but that is how it appears to me. I think the luster is off on ipos like this, and only unique coins have a chance. Too many people will be looking for quick profits, so even if you did buy this for some reason, a lot of people will be dumping at any sort of decent rise... fast, I expect.