Coin is overvalued already, remember 85M is going to be released on launch. And 15M shortly after.
I pick up your cheap coin once it hits the X-changes.
There is no overvalued, it's whatever the market believes is correct.
Oke you are right, I just believe the market's believes are wrong right now.
But that is just my opinion.
Supply is just too massive to validate this price point, and it can only get higher during ico.