PPC has been at that value and above - but that was during the last crypto bubble: http://www.cryptocoincharts.info/pair/ppc/usd/btc-e/alltime
Peercoin is fundamentally different from Bitcoin in the way the network is secured as you might already have noticed. It's very energy efficient and can be sustained without mining data centres.
So it can be expected to be used as a kind of hedging instrument if parts of Bitcoin show problems that other crypto coins/assets don't have if you consider investors/speculators.
On a technical level Peercoin is the first working implementation (August 2012) of a purely PoS _secured_ coin while still having an ongoing distribution through PoW (not security relevant).
A RaspberryPi has more computing power than required to do the blockchain securing and transaction processing job!
And it has a lot more attractive attributes.
So it could very well go way above 7 USD.
Or it could completely fail.
Who knows?