You are only telling one of the facts; Along with increased coinbase, also the userbase is increased. This fact you seem to totally ingnore.
If fed feeds dollars to the markets, dollar will devaluate, because the amount of users will stay the same. If the size of markets would dublicate along with the amount of dollars, there would be no inflation.
There is mobile wallet before airdrop.
At BEST, at the airdrop, every Icelander will adopt it as a currency and not sell it...which amounts to increasing the userbase by 300,000 people or so. Won't happen, but there's your best case scenario.
The supply, on the other hand, is going to increase by about 10.5 million coins.
Anyway...there are going to be a lot of tears when this crash happens and nobody will be able to say they weren't warned. There's a reason it has dumped so hard over the past day or two.