This is the third time this pattern has repeated. If you're interested in the price pattern read below.
Pump from 600 to 1400 satoshis. This led to a massive dump back and took a while to recover from. It slowly climbed back up to 1500 and then...
Pump from 1500 to 4900 satoshis. This was an epic pump. The usual daily trading volume spiked up to 1400 BTC traded in a day. It was followed by a massive dump (people taking profit).
Since that last dump which occurred the weekend before last the price has slowly climbed back up from 1600 to 2500 to 3500 to 4500. When it broke 3500 confidence started regrowing very quickly. It hovered around the high 4000's for a while. When it smashed through 5000, I posted here saying this is a very significant sign (it's a very bullish indicator recovering from a dump to break the all time high price) and I predicted a frenzied pump like the last two times (proof here - DO NOT POST SESC LINKS ).
We've now experienced the next pump from 4900 to 9000 satoshis
What is happening now is the next dumping phase. Effectively this is people cashing out there profits. I expect this to last for several days like the last few times. There's no proof of work mined coins being dumped on the market. The only mass coins being released are from people who bought low and who want to realise their profits. Eventually this will stop, and the buying pressure will cause further rises in price.
The market cap of this coin is still peanuts. We could easily triple in price from here. Easily. When I do finally start taking profits from this coin, it's going to be one of the rare coins where I only cash out half and keep the other half in. Because with a coin like this you just don't know what the ceiling is going to be for many weeks.
That's the problem I have. I don't really want to cash out even 50% because I don't know the ceiling. It's not like BTC where it has less explosive growth nowadays and the market cap is so insane. Sure the pump and dumps will come and go, but if the next ATH is just around the corner.... *sigh*