Fluctuations compared to what? Here is the 1 year chart from coinmarketcap. I don't see anything that looks much out of the ordinary recently. $1 +/- 5% seems pretty normal:
Volume did heat up (or at least coinmarketcap says volume has dropped 90+% in the last 24 hours) but price seems to have remained about as stable as it typically is. You can argue the price has been more volatile but it thus far has stayed within a reasonably narrow (and typical) range.
I'm not arguing that too much debt isn't bad. Of course it is. I'm not sure that 10% is "too much" though. The fact that HBD has remained in its typical range would seem to back that up...for now.
Neither one of you have bothered to check which markets Coinmarketcap and coingecko are actually aggregating. Both of them get their data from Korean exchanges that have zero liquidity, high spread, and zero access to the outside world. These numbers are completely disconnected from the actual value on the internal market. It's less than worthless misinformation. The actual peg is much much tighter than what's shown here (due to the stabilizer proposal).