DEC has been trough similar patterns as HBD ... back in 2017 HBD, then SBD was printed a lot because there was no upper limit to the price and option to burn HIVE and create HBD, same as DEC in 2021.

Then in the bear, HBD was converted to HIVE and oversupplied. There is no option for DEC to be converted to SPS, otherwise that would have put even more pressure on SPS, but the value of the DEC token itself has dropped.

In the last bull HBD was updated and its doing well for now. An internal market maker was introduced as well with the HBDStabilizer. DEC might need something like this.

It takes time for the cycles to spin. Overall bad market conditions don't help as well.