Does anything indicate when the snapshot was taken? If it already happened, it definitely won't do anything.
I will admit that I don't understand the technology enough to know if this is still an effort to force the Battle Royale that was supposed to happen with the original fork in some covert way.
The mass manipulation is likely just normal corrections and profit taking, but it could also be gauging a potential to gauge how hard it would be to create the flippening to something new, moving from BCH to the new coin while trying to crash Bitcoin simultaneously.
It almost seems like each side is testing the other-Bitcoin/BCH over the last few days and hold large amounts of each other's coins to try to sell and drive each other's value down. Then they buy their coins back on the cheap and the pattern reverses/value rises.
Conspiracy is way more fun than the truth!
