To those who wonder why the dump happened, it happened for 3 main reasons in order from minor to major one.
1. Recently the tme stuck in novaexchange was burnt and exor were given to their respective owners, that keep the price stuck between 0.35 to 0.30 $, because new elix were introduced from new sellers.
2. FUD started to appear in telegram, with the main excuse being the differences of the max supply between CMC and the website, CMC had an error in the supply, which was exploited by fudders to create doubt in new sellers that recently came to the token.
3. This was the starting point, a particular user, we are not sure if it was a whale or a buyer, actually started to dump the prices, at one point he/she dumped all the buy orders up until 0.000055, then later on, put a wall sell order of about 4 BTC of about 0.000065 so people could buy at that price and keep the price down, but just almost immediately after that, those 4 BTC were bought fast, perhaps making the user loses a lot, unless it was a whale, the price got up to 0.00007 for a little while, and going up again, but the same user (probably) dumped again up until 0.000045 in one go, and from there, panic finally took over sellers and the real dumping began, and you know the rest.
In my opinion, by the rate and volume Elixir was getting, the prices should have gone up to a minimum of 0.6$ to at most 1$ in small increments during 1 to 2 weeks, before a correction occurs, or perhaps small ones, in which the prices would have gone down slowly within some days or a week to 0.5 to 0.35, depending on the max price that Elixir would have reached, but, all of this was prevented thanks to the fudders and the greedy user or perhaps a couple of users that started manipulating in order to get cheaper tokens, thus reducing the prices and making other investors lose their money, just for the benefits of a few. So as you can see, this wasn't normal, this wasn't a correction, it happened within 30 to 45 minutes, like BTC dumped hard when China banned ICOs, that wasn't a correction, that was a panic selling response; this was a manipulation made by some users to get benefits for themselves without any consideration, but we know that now people will blame the project and the devs for this occurrence.
Take into account, all the information about the project, the minting process, the product, its workings, the roadmap and the whitepaper itself are all on the website, and is your personal duty to read everything before investing, even into a token in the middle of a pump and judge by yourself if the token is worth investing, the roadmap goes as far as 2018, so it's up to you if you invest here, cryptocurrency is always a risk, a risk which you have to carry yourself.
after a while weak hands will leave, market will be healthy
that is amazing so many weak hands sold most of their tokens in just half a day, when elixir is still heavily undervalued
they'd better do something else, should never involve in crypto.
