There is a big room to grow, but think at this:
Let's take Waves coin market cap:
15 Waves Waves $486,712,000 $4.87 100,000,000 WAVES * $2,402,060
This price is given by a short amount that is traded. If a big share holder comes now to sell his coins he can't !! Why ? Because there is no such demand on this coin. So here we can say is a bubble.
Market cap is a thing, liquidity is another thing. Just because there aren't buyers at a certain moment it doesn't mean there won't be some in the future. The price is whatever we get at a certain point in time. If that's the price at which Waves it's traded now (even if it's just a small part of the entire supply) then that's the price of it.