biggest fomo in the crypto history.
i second this statement, why would people pay this much for a coin?
It is pure psychological manipulation. The same methods have been tried over and over to launch coins. Now they thought of something new that started with the all secrety website not on BCT and then with some "well-known" names connected to it. They did something extraordinary to convince Polo to list it in sync with the launch. They kept 20% which is going to make them a packet of money.
The current price will only hold as long as there are a few coins in circulation. Soon more and more coins will come on the market and the price will go down to the detriment of the people that are buying at these prices. There is a thing called rationality, which seems to go out of the window when people get caught in the rush of something new they have not yet seen or when they thing they are winning (like gambling). In this case it is the way it was launched. People will unfortunately buy at these prices because that is how people are. There is absolutely no reason why the coin should be trading at these high prices.
The last thing they are trying, is to make the coin "special" through getting market attention. I think they got the market attention they wanted eg. high coinmarket cap, launch day Polo etc.
I will not be surprized if it is the devs own bots buying and selling to himself. The coin will eventually just go the same way as all the other hundreds before it because it is just another coin, perhaps with a few extra features.
