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 ;)

Bitcoin jumped a bunch overr the weekend, and they're a bitcoin company plus some treasury in btc so insta upvalue

the clearest explanation is just more people wanting to buy than there is stuff available in a market that's not very liquid. But if I had to pinpoint something, I'd bet on either Bitcoin pumping or/and a short squeeze (https://fintel.io/ss/us/fld#).

Low volume?

Bitcoin companies win.

Shitcoin companies lose (Celsius, BlockFi, FTX, etc....)

I think that it does the same thing all shitcoins do, go up to catch people 👥 clueless and turn them into liquidity.