$MYX made over 10x in just 3 days and is only listed in futures.

Why does this happen? Why do some coins move so sharply?

Such movements are primarily triggered by short liquidations. Since this coin is listed only in futures, it is much easier to manipulate. In futures, people often trade with high leverage.

When a token starts to rise, many traders begin to short it, thinking

"It has risen too much, now it will fall."

But by shorting, these traders actually add more fuel to the fire. Market makers keep pushing the price up.

When there are too many open shorts, it is easier for market makers to push the price up because short liquidations have to be fulfilled on the sell order book and order books are usually thin, creating buying pressure, causing the token to move sharply upwards.