There is one more reasonability test. The total of coins on the sell side must be lower than the total supply minus dev premine minus +-10% that is staking. As soon as the total on the sell side exceeds this number it means that the dev sold some of the premine. This test is based on the assumption that users that buy in good faith will most probably put their coins up for sale at a higher price to make profit. At this point the total on the sell side is about 4800 on the 3 exchanges. If 32k was indeed dumped, the sell side would have been at least 15k+  One could argue that the coins were removed for staking but staking reward is low and therefore the incentive to stake is low and POS difficulty is also still low.

Based on this I would say that the probability is much higher that about two players are creating volume, one with a bot, and one took profit with a large percentage of his coins.