What can be done by members of steemit to improve the price of steem?

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We minnows can't do anything internally. We are powerless in this war of the Steem price. That being said, we can do things externally to raise the price. We can... Invest. Now is the golden age of investing in Steemit, with the price lower then it's ever been before, and after the debt ration rises, possibly at the lowest it's going to be before Steem price starts to rise again. This would be the perfect time to invest thousands if not tens of thousands of USD into Steem Power, and begin delegating that Steem Power out over the MinnowBooster SP market, or using it to upvote others and earn curation rewards from it.

Other then that, we can't do anything. The reason Steem's dipped so far is because of how many whales there are that have recently started powering down. With possibly hundreds of thousands of Steem coming back into the market, people are trying to sell everything before that much Steem is introduced to not lose too much, and this started the initial push on Steem price downwards. After that, Steemit has started printing Steem instead of SBD as post rewards, causing much more Steem to be introduced into the market.