It is outperforming every other market constantly. It was heavily sold out and was suppressed for extended time period.
Yup, the ATH was over 14$, about when Bitcoin had its own ATH. After that WAVES has fallen until nearly 1$. That's ~14x fall (Bitcoin has fallen "only" some 6x), so there's plenty to recover.
I almost lost my hopes about WAVES, I'm glad it's back on the right track.