One of the arguments I have heard against Dogecoin is that it does not have proper developers. But it is the coin which attracted the most attention apart from Bitcoin. In an opensource world, anyone can become a DOGE developer. The bigger the community, the higher the chance for good developers.
Dogecoin is a community coin and it has the largest community of all. In my opinion, it is highly undervalued now.
If DOGE was BTC, it would now cost 0.07$ each instead of $0.0002 (350x more)
If DOGE was LTC, it would cost 0.02$ each (100x more)
i agree that it attracted the most attention amongst other coins, and it is mostly because of its community. but i don't think it is undervalued like you say. and i think it is because of the large amount of Doge available and also the large amount of Doge being mined and sold every day. this way it is never gonna rise in price