300k+ ICN would have to be dumped for it to drop below 30k satoshi currently.

It depends on what else is happening in the market.  People dumped a lot of ICN to jump into BTC, ETH, and all the other pumps that were going on.

BTC hardfork uncertainty has slowed the pumping down a bit, and ICN was looking oversold after all the dumping, so people brought their profits back into ICN to wait for the release of ICNX token.