That's because of the 'intelligent' way to reward masternodes - using this flipping coin/randomness.
There are a lot of new coins generated every day but nobody will want to buy them after they realise magnet masternodes are useless.. Especially that mnrank say one thing and the reality is much much worse..
I hope the dev(s) learn a lesson from this.
The price will go further down. I have no interest to buy, I sold my 2 MN coins when price was $0.4, so don't say that I am telling you this because I want to buy more..

There are 192000 new coins generated daily through pow/pos, so every 5 days 1 million mag hit the (only) exchange.
Now there are 4.4 mil mag coins, there will be 8 mil by Christmas, so go figure out what will happen with the price..