There was and is no reason to buy Mintcoin either - that thing was around 4 for quite some time before shooting up to 16. I expect the same with Karmacoin. Mintcoin is a massive pump, probably involving Wolong spending by the BTC he stole off PANDA supporters. Karma is greatly undervalued compared to MINT and there will be a correction shortly.
I think theres a big guy buying in Mint. But we don't know how much mint he ownes, when and to which price he buyed it. But I think when this big guy who is pumping the price so massive right now is going to sell his coins there will be a lot of tears haha