Its only on Chinese exchange at minute too (atleast i think bter is chinese?) What happens when it moves to a more widely used exchange like cryptsy or mintpal.
It gets dumped on a massive scale by the miners, who panic sell into lowball buy walls. Then the coin loses a ton of value, but if you're lucky it gets pumped and dumped... maybe more than once. Then it dies usually.
It's a shame because the miners truly dictate the price in this scenario, but generally have weak hands, enabling this to play out time and time again.