Indeed that is happening right big whales like to take profit when they get chance to do this. But Raven is looking more strong than before and it moving out of expectation I think we could see this rising again after this correction because it will make this more healthier.
I thought same thing last time when RVN was listed on Binance (late October), but after almost 1000 sat, we found Raven bellow 300 sat only 3 months later.
Raven inflation is really big, every day new 7.2 million of Ravens are mined and at todays price, that's 216k USD needed daily to flow into RVN, only to stay on this price level. It's ~1.5 mil USD weekly. Lot of money for bear market.
The inflation won't be like that forever but for now yes, the additional high emission inflates the supply.