Novacoin has some good fundamentals. I thought it was much undervalued last week. It always traditionally was around 0.02 or at least more than LTC so glad to see it come back to it's position. Though ya, the spike and height it has reached from the recent boom is certainly surprising. I was guessing more along the lines of 10-15$ but hey, the market wants lots of Novacoins.
Honestly less surprised to see NVC at over 15$ than I am at seeing NMC selling for 7 bucks. Pretty nuts stuff.
Novacoin has no fundamentals. It has no market, no volume, no demand. It offers no innovation. The only thing it has going for it is that the half dozen Russians that premined it own 95% of all the coins and collude to control the price. If you're not one of them and you choose to own this coin, then you're a fool.
And the market does not want lots of Novacoins. The order books are completely bare. The scammers just sell the coins to themselves making it look like there's demand to sucker in the noobs.