I think it's just a shitcoin someone just wanted to make a profit out off. They boosted the price by buying a lot of it cheap then boosted it more by buying intermittently. Look at the prices now, it drop as fast as it grew. Most likely the guys who manipulated it has profited from it for sure. I was able to position and made a handsome profit. Too bad wasn't able to sell off at the peak.
I think this is the case. But still the coin is above the usual rate that we know and the cap is still above the $30m.
If this continues, I wouldn't be surprised for it to improve further since it has easily reached a market cap above $75m at its peak yesterday and went up to top 10 coins.
Just some thoughts about this. If it was possible for a number of traders to take it this far, I believe that people can actually benefit from it by boosting its trade level and this wouldn't leave the coin in the grey/dead area. So perhaps people should consider it and take action?
