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.
Naw, there is a bitcoin at 300. It would eat your 389k.. Also during those huge dumps the bots come out and play and create liquidity as well.
You're right. I was reading the depth chart wrong. There's some decent buys in place, but any human trader watching his stuff should pull out his stops as it falls.
I'd love to see it settle higher than what we were at. It's an OG coin compared to some of the stuff out there now.