I think that IOTA, in-spite of it's ground breaking technology and potential to be a game changer, is currently over-priced because of one reason - it's horrible desktop/mobile wallet. I own IOTA, in fact it is my second largest holding after BTC, so naturally I am happy about it's growth. But as it's value rises so is my level of unease and fear that my coins are not as safe as I would like them to be if I choose to move them around. One little mistake and they're "gone". But you should also understand that as long as you hold your SEED and carefully follow the wallet snapshot instructions your IOTA can never disappear. This is not a security flaw but an early development stage of a wallet that is not friendly yet for the average user. Soon they will release a much improved wallet that will bring it to the standard of any other leading crypto wallet.
In the last few days there is a bottleneck of transaction between user wallets and exchanges due to lack of node support or issues related to the exchanges themselves. You will notice this problem is common with many other coins that suddenly enjoy a massive inflow of new users. Even Ethereum has been experiencing similar issues the last two days because the popularity of one popular cat trading dapp. (I apologize for my horrible grammar... I think I'm drunk today)
With 2-6 Billions of capitalisation (it goes up and down so much, proving there is no real money involved), Iota should be able to afford paying for some good developer to make a good wallet. If they still are unable, that's a red flag.
