The superdeformation and hyperdeformation in $^{108}$Cd have been studied for the first time within the framework of the fully self-consistent cranked mean field theory, namely, cranked relativistic mean field theory. The structure of observed superdeformed bands 1 and 2 have been analyzed in detail. The bumps seen in their dynamic moments of inertia are explained as arising from unpaired band crossings. This is contrary to an explanation given earlier within the framework of projected shell model. It was also concluded that this nucleus is not doubly magic SD nucleus.