Official site says:
"Users who hold Zoin in the core wallet on June 6th, 2018 will be able to claim NIX coins on a 1:2 ratio (1 ZOI = 2 NIX)"

So it seems to be an airdrop effect.

But more explanations was found at twitter comments here:
https://twitter.com/NIXplatform/status/1004492734961455104
"In discord channel (Zoincoin) fudders destroyed value of Zoin just before snapshot.
To prevent any dump to not kill Zoin, I would do airdrop in several batches.
Well done for your airdrop management to left your first project alone itself!"

And here:
https://twitter.com/zoinofficial/status/1004855241660084225
#ZOIN is very much alive! Current team is still watching over $ZOI and preperations have started to install the new team.

So the real reason may be the team/holders conflict.
There's a chance to recover in this case, but you need to know more about what's really happen