Result of several factors...

1. Low market cap => much easier to manipulate the price
2. Low volume => manipulation level 2
3. Whales want to make money quickly
4. Some "influencers" promote it
5. The meme department is doing pretty well right now (in the short term)

The other day there was a token (meme - shitcoin) that increased 100x in 1 day (no joke)... its name is AURA ;)