Examining the 360k dump on the Kraken chart.
220k dumped at 2016-12-26 13:05:00 @ median price 0.0003435 = 75.57 BTC
140k dumped in chunks starting around 2016-12-27 10:00:00 @ 0.00032 = 44.8 BTC
So he dumped his 360k for about 120 BTC = average price 0.000334
I suspect he made about a 55k ICN profit if he was able to buy back in around 0.00029. I didn't see any obvious signs of him buying back in on chart of orderbook, so if he did, it was in 10k-50k chunks.
Price drop was due to this one trader, there's no other significant volume spikes on the chart.
Conclusion: ICN holders still holding strong. RIP to the noobs if they panic sold. RIP to the whale if he hasn't bought back in, he will look like crying Jordan soon.
Maybe he put small buy orders ( this tactic is to prevent price to go up quickly- big orders can create buy support ) I think he bought back already, and don't forget that price was 0.000235 0.0005 for few hours...