Yes, I highly believe that the market can be easily manipulated especially when the its holder have a high share. I also think that this is leaded by a large group of people who have enough share to manipulate price.
They played so well, most of the time when the price going higher people begin to fomo and buy without tracing the movements, thinking that they might be left behind making the whales gaining a lots of money when they are fully satisfied they will start to create fuds and negative news will show around bringing panic sellers to sell out and ride with them to make the price more cheaper, manipulations happen with someone a large group who still holds big numbers of cheap coins way back and still playing for those newbies to be victimized.