My theory is that the ASIC miners don't mine Dero directly. They sell their hashpower on nicehash to the highest bidder (what else would explain the large amount of Cryptonight hashpower still for sale on nicehash) and thereby earn bitcoin directly and immediately, which is what they really want, and without dumping on any market. They are therefore pretty insensitive to price spikes on individual coins like Dero. The price spike seems entirely independent, probably due to the reasons already mentioned.
Seems as plausible as any other possibility. 2BTC buy wall at 25,000 Sats now. And I was griping about buying at 6,000 Sats late last week.
Just 2-3 weeks ago the Atlantis announcement might have staunched the bleeding for a few hours, the market was in such a funk; now it's good for a 6-bagger, to use the old Peter Lynch terminology.
My purchase of 300 DERO at 4800 Sats was supposed to be the first of several increasingly large purchases to be made over the next couple of weeks because I fully expected price to trend downward from the ASICs; instead it looks like I bought at or near the bottom!