It's an artificial spike. Not exactly a man made/planned pump. In flow of coins has halted so current coins on market are inflated from demand. It's not a pump by a coin holder by manipulating the market, but a system update based inflation.

As soon as the flood gates/wallet opens, every one with coins will be selling. Very few would be buying.
The value will then drastically drop since the depth isn't there to sustain high value.

I have 389k hbn. I can personally drop the value into the 10-30 satoshi range if I dumped my wallet.