How do u thick If everyone held their tokens then there will be not trading and value remains stagnant or non existent.
Then price will go up until eventually someone starts to sell, that how markets work and why they are adopted everywhere. Markets correct themselves until the point they work.
In the contrary, I think increase or decrease in price is as a result of demand and supply. When the amount of buy is higher than the selling, the price shoots up but when the amount of selling (dumping) is higher than the buying, the price drops. Without any form of action in market (or when buying and selling are equal) for a particular coin, the price is expected be sideways.