Who buys up all the farmed coins on these new cryptocurrencies.

It is really just speculation fever?

I came across a subreddit, I forget its name though, thats sole purpose was pumping up new cryptocurrencies, hoping it would catch the attention of casual crypto investors. They'd pick a day to sell off whatever cryptocurrency they had pumped up, then repeat it was some other no-name cryptocurrency.

Yes. And miners tend to hold their coins so the supply remains moderately low. A bit like the OPEC.

There's been an absolute metric crap-ton of interest generated since the media has started picking it up and taking about it 2-3 weeks ago. It seems like it's one of the first crypto offerings that relies not on constant CPU/GPU usage, but just proof of "storage" from what I understand.

Very interesting.