Sudden rise, what is the reason after the sharp decline in its value?

• Increased
by 34% to $0.03900, with the price rising from $0.029 recently
• The trading volume reached $34.6 million with a trading volume to market cap ratio of 1.26, indicating strong liquidity
• The market cap now stands at $27.5 million, reflecting renewed interest from investors in this token
Technical indicators and market sentiment