The whole run up is fueled because of IOTA going to 10billion anyway, the bullrun started with that. So I don't know how serious people even really are about it given that its been around for a while. Could be just to make a buck, nothing else.
-edit- Bagholders dumping caused a trend reversal, time to put low buy orders. Who can blame them, from 2-5 cents to 16 dollars in a matter of weeks.
It's basically on 1 tiny exchange and has very few people holding the coin so I am expecting a lot of these dips until it matures. It provides a great opportunity to accumulate.
I am swooping in if it falls below $10. I don't expect that though, too many smart people already aware of this coin and will snatch it up.