I do really hope this was not a pump and dump, more like fudders and panic sellers. But Minereum was at 7 million cap once with a smaller supply, why Elixir would not reach the same amount?
You should direct this question to the dev team. They are the reason why the price is falling. They should also explain how the circulating volume increased with over 5 million within 3 days. They are responsible for Elixir price falling and they should do something about it. I warned about the mass selling and the massive increase within a short period of time but no one listened.