If I have crunched the numbers correctly, the current market cap of this project is, at the moment, roughly $300,000 (That's counting the final figure of 10 million coins after 4 years, being the total number of coins in circulation). By comparison with hundreds of other projects, it should be much, much higher. For instance, a coin in beta like MangoCoin, which still is not on any major exchange, currently has a total market cap 4 times higher ... and it has been valued considerably higher and it is going to be valued much, much higher.
I believe the reason for the low price, among others, is the amount of dumping that is taking place by people who keep a core position but sells the staking. Which, longer term helps the distribution and could result in a steady price rise if the devs continue delivering like they have done, with some probably unnecessary bumps, up until now.
And just for clarification purposes, the previous statements don't mean I am endorsing this project; just stating some comparison facts.
I think your assessment about the dumping has somewhat of an effect. After all, I've been dumping some of my staking proceeds for a few bucks here and there. But I really think the main reason the coin price is suppressed at the moment is because the person who has almost 30,000 coins on bittrex right now (and growing) wants to keep the price low..
Also, the algo was not as gpu resistant as hoped for by the dev team. I think the only real solution to excluding GPUs is to have a reward system that punishes hash rate increases by lowering the block reward, like Magicoin...