I feel like I'm still missing something though. Why does a giveaway pump up the value of a coin? It seems like it would dilute the coin by expanding the circulation. Is it mainly because of the hype that the giveaway creates? I feel like if someone owns a ton of BTC, they'd be better saving their coins and getting Lumen when the giveaway happens instead.

What has happened in the past after a coin does a major giveaway? Do prices rise or fall?