What makes a crypto coin pump?

Could you please elaborate on the factors that contribute to the surge in value of a cryptocurrency, also known as a 'pump'? Are there specific market dynamics, such as increased demand or scarcity, that play a pivotal role? Do social media trends and hype surrounding a particular coin play a significant part in driving its price upwards? Additionally, what role does speculation and the anticipation of future developments, such as new partnerships or projects, play in fueling a crypto pump? Understanding these factors would provide valuable insights into the complex world of cryptocurrency trading.