However, it might also be the beginning of another altcoin bull market similar to what occured on March to June of 2017 where we have witnessed 10x - 20x pumps of some altcoins. That was months after bitcoin's dominance index was also dropping during that year.
We're currently going through an altcoin season, but one that seems to ignore Ether and XRP. It really seems that whoever the groups are behind the shitcoin pumps, they target extremely low liquidity coins. A few million is enough to pump their prices with 20-30% while the same money wouldn't be of much interest to Bitcoin. I would say that such amount is barely enough to increase Bitcoin's price with 1%.
Searches for altcoins are up a lot, so that might explain the increased average joe interest. Average joes buy what goes up, and let it be the shitcoins that are going up now. Some people will rekt themselves hard when the party ends.