Price manipulation occurs in both small and major currencies, with some instances involving a single market participant.
In all cases of “dump and pump” events involving Bitcoin or other cryptocurrencies, spot volumes rise above the average seen on exchanges. The price of cryptocurrency drops or rises rapidly as a result of the occurrences.
After investing in cryptocurrencies, investors may see huge trades on exchanges with "thin books," or exchanges with little liquidity, where a large amount of cryptocurrency is completed.
This is a sign that market manipulation is taking place in order for investors to profit quickly. By selling large amounts of assets on the spot market, manipulators take advantage of the thin order book.