I think this coin is going nowhere at the moment. And the biggest problem is this huge premine.
Premines always worry potential investors. If the coin starts to rise significantly in value there is always a risk the dev could dump, leave the coin practically worthless, then disappear. I'm not saying this coin's dev will dump, just that it could deter potential investors.
There's always either premine or instamine, otherwise the devs wouldn't have any incentive to develop/improve the coin.
Also, ironically the huge premine sort of guarantee that the dev wouldn't dump it all at once.
If the SPC had, say 50,000 premine, there would be a risk that Suresh would dump it all during first price spike and then disappear. With 1 million it's simply impossible. Therefore, from Suresh's point of view, the best way is to keep selling smaller amounts over long period of time and further developing/promoting the coin and try to drive the price up.
Also, part of the premine can be used for giveaways, bounties etc. I hope to see SPC android wallet soon.