The only people who benefited from the steem inflation are people who bought around $ 0.1, a couple weeks ago and powered up ( by definition won't dump These users who perfectly timed the bottom and already want to sell their powered up steem are a tiny minority, they accumulated steem for only a short period of time anyway and powered up less than 3 weeks ago.
Steem that are awarded daily and instantly available to cash out from blogging represent a ridiculously low amount compared to what a whale can dump on the market.
I think you are trying to convince yourself that the price is going lower. I'm sorry but without the help of the whales it ain't gonna happen.