a pump and dump means you also DUMP after your pumped the altcoin. so far you have been seeing the pump of ethereum but not so much of its dump. of course the real dump when the wise money was exiting started months ago but most people are being hit in the face with the reality of the situation now after they have lost a large portion of their investments as ETH continues to lose money. and now the bag holders who face this reality are starting to dump also.
this will continue until ETH reaches a more reasonable price appropriate to its gigantic supply and practically non-existent demand. and as ICOs are banned and lose their attractiveness that little demand will also vanish. at the same time as the ICO scammers cash out the free ethereum they have gotten the price of ETH will tank harder thanks to this new sell pressure.
Gigantic supply and non-existent demand ? WTF
Ethereum circulating supply = 100,001,328 ETH you can see and compare it with Circulating supplies of Ripple, EOS, and TRX, after that you can know which coin that has a giant supply
Are you worried about the maximum supply of Ethereum? I think you can't claim a giant supply just for that reason
Ethereum trading volume 24h = $2,266,170,000 and Ethereum is TOP 2 cryptocurrency, do you think there is non-existent demand?