While I don't disregard the possibility of intentional pumps, my theory is slightly different and has to do with SBD.

We have seen in the past that how SBD is kinda treated in market without any regard to its original purpose to be a peg to USD. We have seen the same recently.

When I look at SBD chart, it seems to me it started moving up significantly right around the same time BTC started its bull run. What I take from that is that some traders are just treating it just like another crypto coin that may keep increasing in price. That may also be due to its low market cap.

SBD has been above $3 for four months now and above $5 for couple of month.

So, what I think is some traders maybe speculating that HBD may follow the same path due to the similar characteristics it has with SBD.

In other words, some people may not want to buy BTC because it may seem too high in price, and buy other alternatives like LTC, ETH, BCH, etc instead.