That was not a dump!!! It was a trading error with Mintpal. Never has a dump gone down 40,000 sat in less than 5 minutes and then back up again in 1 minute.
Actually, I was watching cryptsy and the same happened, slightly off timewise.
Seems like the usual whale dump to cause a panic selling then immediately grabbing the cheap coins.
No it didn't. It went down to 83,000 and that was due to the "panic" on Mintpal. It did NOT go down to nearly 50,000 as it did on Mintpal.