So what is so special about this coin that it gets a nice high volume pump? IPO, PoW... not that interesting.
ELI5?
Good dev, good idea, good vision, good marketing, good launch, good communication, good delivery of goals, good supportive community, good possibilities, good future.
Good dev - how do you know this? For now we just have a clone of bitcoin with some sloppy copy-pasting. Example:
https://github.com/viacoin/viacoin/search?q=bitcoin&ref=cmdformGood idea, vision - maybe, but isn't this someone's else idea and even dev admitted that?
Good marketing - hell yeah, selling all premined coins in the IPO is good marketing
Good launch - 3 days of 0 reward mining...hm, is this really good?
Good communication - self-moderated thread
...... and so on
The biggest worry for me is that the dev has no incentives to do anything as he has already cached out. Why would he, even if he can, further develop this coin? He has no vested interest.