I think it's undervalued in any case, but what changed now?
It's a pump and dump. There is no logical reason for money to come in that quickly so you can expect it to fall out just as quickly.
It's also the holiday season and it's very possible that people want to pump and dump to shake weak hands so they can use the money to buy Christmas gifts. I don't trust the markets at these times as the incentives and timing seem to suggest pump and dump activity.
It's nearly all Chinese volume. Payday usually comes at the end of the month there. Buyers are guessing they have one or two more chances to get in before this thing goes up. I have no way of knowing for sure, but that would be my #1 guess.
Could be the Chinese or it could be Americans using the Chinese exchanges. If it's the Chinese it doesn't make any sense why we'd see a huge price movement but maybe people from China can clue us in?