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It's easier than STEEM to pump, because its supply is very low, around 6.5 million, compared with STEEM. So its appreciation is due to speculation, not intrinsic value. STEEM is the base currency here on Steemit, IMHO.

so does this mean this is just pump and dump i mean in steem dollars case?

Nobody really knows.

It's very clearly a series of pump and dumps in a coin with a tiny market cap but no one wants to openly admit it on a platform where interest in the platform is dependent on payouts being worthwhile for participants. 24 hour volume at multiples over the total float? Lol. Glad to see a post that looks at this objectively.