I guess that irrational players in the crypto space are actually not a new thing. The only rational explanation I have for the high price of SBD is that some investors are only looking at the graphics and don't know or care that the natural value for the asset is much lower. They might also think that the since steemit.com and the Steem blockchain are booming projects the asset with the lower market cap is the one likely to moon or something. I honestly have trouble rationalizing it.

Option 3 I guess is for somebody who is getting huge author rewards to is pushing it up speculatively in order for them to keep getting highly inflated rewards but I doubt the math would actually work out on that one.