I've just been assuming that SBD is caught up in the recent crypto frenzy. I'm not a technical trader so I don't quite get the mindset, but a lot of the technical analysis I see just completely ignores fundamentals of an asset.
But in this case, there's not any fundamental reason why SBD shouldn't trade above $1 because it has no mechanism to quickly increase the supply to push down the price. As @smooth says, SBD is only "half-pegged."
Alright, that makes some sense! Thanks for taking the time to explain all this :)