Right, to an extent. The largest wallet in this game is what maybe 1.6 million? Only a few people have the power to do some damage. I don't see anybody buying up a bag of 10 million at these prices just to crash the price to bits. One can speculate either way, I see the pendulum swinging toward a climb overall.
If you think these whales hold all their coins in a single wallet you're mistaken.
The coin will be dumped once the pool novelty wears off and no new investors come with more btc to sustain the high prices, the pool alone will not be able to sustain such a high value for a coin which no applicable use apart from being given in exchange for mining crappier coins and what do you think those miners will want to do ? Dump the coin to turn a profit
I'm not saying the pool is a bad thing, it's great seeing the community come together but the reality is everyone is in this for the money not the longevity of the coin and unfortunately that will be this and every other coins demise
Not disagreeing with every aspect of what you are saying. Nonetheless, I do think your designation of "such a high value" is quite arbitrary. Personally I think the present value is quite low, in comparison to where it is likely headed. Also, the fact that there are limited applications now does not mean they aren't in the pipeline. And indeed they are.