I believe the reason for this matic price pump could be traced back to their two recent announcements, one about their upcoming upgrade, which is to happen a few weeks from now, on September 4th, and their plan to join the UK advocacy initiatives, which focus on promoting decentralisation. 
 
For now, I think it will be wise for anyone holding to do their own research, but $0.5 is something that matic can outperform anytime, as I have held and sold some in the past for over $1, which I believe it can still get there.
 
But one thing is just uncertain to me since the new upgrade is going to introduce the Pol token as the new official native token, which will be used to cover up all polygon transaction fees. I think the demand for matic is absolutely going to decline when that starts. As we all know, matic being the native token for the network is part of the reason why its price is pumping.