Everyone who has a coin controls the market. Besides, i don't think that whales actually sits their asses down to stick their eyes on the movement of crypto currency to pump it up and dump it eventually to increase the price. It will take alot of work for an income that they could get from less work and supervision.
You are right and I agree with you that whales control the market. They manipulate the market according to their well and when they want to sell their coins the market is temporarily raised and when they want to buy the market is downed again and they hold big quantity for their future. They never let small investors to make money from their investment.