Steem token has soared close to 400% in the past 7 days. Which is crazy.
The trading volume of STEEM was less than $10,000 a day 5 days ago and prior. Last week it was trading around $0.25 cents and today, it's close to $3.50 for 1 STEEM.
It made it's breakout point 3 days ago from around $0.50 to now. About 3 days ago, there was social media running activity that sent steemit's popularity sky high. People are noticing steemit and it's potential and that's why there's so much activity around STEEM token.
At this point, I see there will be short term price heading down. Longer term it may be higher dunno. But this is classic rise on news and folks with steem will sell for profit .