I suspect that the panic buying will ramp up for the next few months so prices won’t abate for a while and may continue to rise.
Folks will continue panic buying.

Certainly some folks who have been squirreling ammo away will sell a bit. But others will want to ride the price as it goes up, hoping to maximize return. Others will hang on to their stash for personal use.

I don’t expect a flood of ammo to depress prices: I don’t think there will be a flood of ammo.