MegaCoin was launched in June by a developer going by Dr. Kimoto. At launch traffic was super low but a lot (6,000,000) of coins were mined, making speculators suspicious of Kimoto self mining and setting himself up to make a fortune. Preminning is often a sign of such intentions.
Mega is one of the Alts that has gotten more transaction, with a market cap in the 10s of millions as can be seen for free at Crypst. Adam poses the question, "Did Kim Dot Com miss the boat on this?". Which poses the interesting follow up "What could Kim Dot Com do about this?". A question that we all know Kim would ponder.
More @: Adam Crouchley