It is probably due to a number of people stopping using their alts after some instance hopping.
Also a few people who came to see how it was, and weren't attracted enough to become regular visitors.
Curious to see at which number we'll stabilize.
Next peak will probably happen after either major features release (e.g. exhaustive mod tools allowing reluctant communities to move from Reddit) or the next Reddit fuck up (e.g. removing old.reddit)
Stats on each server: https://lemmy.fediverse.observer/list
but there is this https://github.com/LemmyNet/lemmy/issues/818
and https://github.com/LemmyNet/lemmy-ui/issues/1113
"multireddit" are nice to have but they do not address this problem Which a common view for all user of an entire community across the fediverse. "Multireddit" require client to pick and choose individual communities. This means less than 1% of users will every use it. This means there will never exist a fediverse wide community around topics.