Are people still holding? It's quite hard when the price is crashing
The main reason people are holding (or should be) is the fear of Missing Out.
I am holding because now, because i feel the price could shoot up 10k - 20k sats very quickly and in crypto 99% of the time you will get an exit with profit, if you play the waiting game, just like fishing.
I think the Dev team wants X amount of waves before the price goes crazy. So the people selling are helping the holders.
Regarding price, i do not think it will drop below 20k sats. 20k sats should be the floor.