Ethereum Classic I think is more than a pump and dump. There are 1000s of bitcoins going into collecting these coins.
The reddit community is continuously growing, Ethereum The forked version is dumping in price. And not much margin shorting happening on Ethereum forked version, as noticed by record high Lending availability for ETH and there is a small volume of BTC available to borrow which is necessary to pump coins on poloniex.
BTC started out at around 8000 btc available to borrow, on the way up with ETH more than 6000 BTC was consumed from lending.
ETH lending availability is at its highest in a while, all month ETH lending has been around 150,000 now it is 380,000.
This means price is going down from people outright selling ETH, and not from margin speculative shorting, and on the other side there is a huge exposure to margin long.
I think that this is because people are buying ETC and selling ETH. One asset is high (eth) the other asset is low (etc) and they both can fulfil the same purpose, like if cow's milk is more expensive, maybe substitute with goat's milk since its less expensive. Only naturally they meet in the middle somewhere from supply and demand. ETC being the more reliable chain IMO because it has constancy no bailout forks..