I am curious to know if their was a valid reason for the recent price rise. On 1 July, the price hit 120 satoshis. Even now, three days later, it is hovering around 50 satoshis. Previously the price was stable around 20-25 satoshis. I am always curious to see if anyone knows why movements like this happen. Is it based on real news (and hence the rise is sustainable) or some kind of hype or pump?
The volume for the 24 hours around 1 July was ~200 BTC.
Any ideas?
My take on it was that it was a pump and dump built off the news that a new game is being released this month (see posts above) that will pay out in piggycoin. A previous round hit on April 1, when the price spiked to 308 satoshi on the first news of the rumored game, IIRC, and then fell back right to where it was before after a while.