A few top FOMO holders were selling concurrently, like $500k in a few hours, while external MM bots triggered sell orders as it couldn't maintain the chart momentum, which naturally would drop the chart lower.
Then some famous KOLs who bought in later dumped their entire bags in a few transactions, combined with stop losses and jeets, bringing us back to the $50M level.
Fortunately, this wasn't like before, wasn't a bundle dump, this is more of a temporary retrace, redistribution improved, and with 100K holders, expect a big pump back to the up soon.