Could be one of those feedback loops that fiat pairs get into when a lot of money starts moving around and some of it aims for the exits, resulting in certain coins looking hot when really it's just money getting ready for a quick pump and drain.
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Could be, that's a very wall street like move. And that's going to happen in the market or anyplace money is involved. Make a quick run and dump when you know so many people are near the trigger point. Then they buy a bit higher because they think they missed the bottom. Does not make it a fact yet, but it is a likely scenario.