Bounty hunters get approximately 2% of sold tokens. These is not enough for dump. Early investors also will not sell tokens with loss of money. It could be developers, which get tokens for free.
Indeed, the total number of tokens for bounty hunters is very low, and that tells us a very clear thing that hunters can not afford to dump, many people often blame the hunters but they only look at one aspect of the problem and hear rumors. They do not know the reason for the dump is due to developers and investors, weak and unreliable work team, that makes the value of the project low and investors immediately sell tokens to avoid losses, from which the dump phenomenon appears