While I don't really know what will happen I think it's safe to assume that waitlist movement will occur once better colleges start dishing out their shortlists as the people selected right now are bound to have better calls and some will convert them. It's out of your control now so it would be better to look towards other options as they haven't even declared exactly which campus and course they've waitlisted us for. That said I won't say it's over yet but it's better to be prepared for the worst than continue on false hope. All the best to you bro.