I think the panic buying will not occur in altcoin when the volume just a little bit. panic might occur alternately in altcoin if it has a large volume of coins in exchange, such as the etherum
Panic buying will only happen when small fish are seeing whales are investing, they always want to ride with the whales as they think they made the wiser decision, it is just like in gambling where we tail with those great handicappers in sports.