it's the result after a year or so of inflation for a liquidity mining program, which consisted in locking liquidity to farm a reward in PLEB. It has now ended, so the currently supply is the max. Also iirc, Esteban chose a high supply (causing the many zeros in the price) because once the token will go viral, like at 1b mcap, it will be closer to $1, which feels more accessible to most people unaware of the economics, and of course it also drives speculation. The contrary is true for a coin with a small supply, like bitcoin, it feels expensive.