SBD is extremely undervalued here
I think that this statement is incorrect. You're treating SBD as if it was the same as some of the other cryptocurrencies e.g. STEEM and that's incorrect.
The intention of SBD is to be a currency pegged to the USD - that it will be relatively stable whilst the other cryptocurrencies are volatile. I believe that it was originally intended to behave like a debt instrument similar to a Bond from a company.
Just like a Bond from a company, the principal amount of each SBD is $1 - and since the 'coupon' on this Bond is now 0% to pay any more than $1 for it doesn't really make to much sense. People that are buying it now for almost $2 are taking a 50% pay cut in the hope of stability (probably because they expect Bitcoin etc. to go down more than 100% in the near future).
The correct statement would be that SBD is incredibly over valued everywhere
Even bonds rally and become "overvalued" based on interest rates. Pegging never really works. SBD is an independent currency and it cannot remain at 1 USD. It will be treated like an asset just like every other independent asset such as bonds and certain conditions can cause such assets to become "over valued everywhere" but that won't change the fact that SBD is undervalued here in the internal market right now compared to how much it's being traded elsewhere like @poloniex! ;]