That $55 was not real. It was an IOU on a sketchy scam exchange.

It become legit approximately 24 hours ago on Bittrex. When it first got listed, people bought it for $9 not realizing they were overpaying (since the value of the coin at ICO was .80).

Now, there's a higher demand for the coins, so it makes sense they are selling for more than the ICO price of .80. It has been trading steady today between $1 and $1.25. (This is its true market value at the moment, and has been it's ONLY true market value to this point)

Basically, any price shown on the chart before July 7th 21:00 UTC was NOT the real price. The real price like I said is in the range of $1-$1.25.

Hope that helps you make a decision