The lockup period is still in effect (for now) but reductions to index inclusion rules expose the stock to passive vehicles like ETFs that are obligated to have a specific allocation on the stock. So now there is an essentially guaranteed demand established by the time the lockup period expires. NASDAQ allows mega-cap companies into the NASDAQ-100 after 15 days which is much shorter than the lockup period for 80% of the SpaceX shares.

15 days - Pump: get into indexes -> ETFs obligated to buy shares

After - Dump: insiders cash out benefiting from the price premium of demand for shares from ETFs