Just after writing my response, I just stumbled on this video which explains what happened to Chaincoin last month. Don't just take my word for it, go watch it.
https://steemit.com/cryptocurrency/@crypto-p/the-chaincoin-pump-and-dump-scheme-and-why-you-shouldn-t-believe-everything-you-hear

I know sometimes the charts look great. But keep in mind that in a small market of 1-2 million, the whales who own the most coins can manipulate the price so that a 'perfect' chart appears which will draw unsuspecting investors in. This is exactly why they choose 'dead' coins for this, the market is small enough to buy up all the coins. In effect, the Piecoins that you bought you did not buy from the open market.. They were probably already bought up by the people running the show, and by the time you got onboard, you purchased the coins from them. And by the time you ever do get out, you'll be selling them for less and the losses you made, will end up in their pockets, and they will be calling you the traitor.... That is how this game is played.