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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 ;)