Operational Details:

Commonly seen just before a sudden drop in prices due to negative news, such as project disputes or abnormal on-chain data.

In reality, these negative factors have little impact and are mainly used for shaking out investors.

Summary

True market manipulation usually does not disrupt the fundamental control structure (such as the proportion of main force holdings and stable liquidity).

If it's an on-chain token, focus on the liquidity pool. If there is a large-scale withdrawal from the liquidity pool and large orders are flowing out, then it is not market manipulation; it indicates that the operators are looking to exit.