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 $10. I don't expect that though, too many smart people already aware of this coin and will snatch it up.
Meh I doubt it, you know how fast this bullrun was? Litterly in a few weeks people went from 400$ to 120k and probably it spawned a lot of millionaires. If I may believe some this coin had been dead for quite a while and suddenly pumps to a billion marketcap? If I we're the one who snatched this up cheap I'd be dumping the shit out of it now, and thats exactly whats happening, 3x in a mere hour it almost crashed the price, now the trend reversed, and I think there will be a lot more dumping to come. People made a shitload of money on this and they aren't just going to let that chance pass to dump this for more BTC.
We don't really know anything about this coin, and how devoted the community is to it. And as you can see it pumps and the big holders aren't even considerate enough to slowly dump it without causing a price crash, tells me nobody really cares about this in the first place. Still not sure how this is decentralised aswell or what is up with double spending on this.
So no far to risky, its worth a gamble with a small amount of money but I can't see this as a serious buy unless it shows some signs of a dedicated community which seems to be completely absent. It only got attention because of IOTA bullrunning it and all the conditions aren't exactly in favor of a serious hold if you sum it up.
But do as you please, I can always be wrong.