Is Bitcoin's value diminishing due to same marketforces as other hype coins, with similar shape but other scale?
Bitcoin suffers basically on same marketforces that are diminishing its value as Dogecoin and other hype coins.
This becomes clear especially if the scales and magnitudes of the charts are being ignored completely.
From this chart example we can observe that Bitcoin behaves very similar like DogeCoin but on a different magnitude, bigger marketing budgets are being used to push it, but also bigger participations trying to cash out on hopes generated by the regular pump and dump scemes, announced in the fancy looking media.
Can therefore be expected that bitcoin will continue to die as does doge coin and other small similar cryptocurrencies?
It also suffers from similar market forces in the end. One big influencing factor is basically the distribution of market attention on more and more cryptocurrencies.
Bitcoin Hype loss runs basically on 1.600.000 times the DogeCoin Hype loss.
To the question in your title, my Magic 8-Ball says:
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great the magic ball bot also thinks bitcoin will drop in price, what a blessing.