Like Wintermute and others large holders did with $Zkja and $ACT , creating a sharp decline in intraday price to more than 80% low, leaving traders with huge loss of funds, that sort of 'manipulation' can happen with any other token at any time. This can flatten the token and to larger extent the credibility of the project itself like it happened with $OM , while the project team remains stunned and is in no capacity to control, respond or mitigate the risks.
Such behaviour of market makers has lasting negative implications and repercussions as the trust, largely, to crypto itself in general, is shaken. The decentralisation and free market yet has to come out with innovative tools and frameworks to cope with such situations.
Until then, we all are at mercy and will and at the helm of these large holders if we are trading other than most major alts. It's just a matter of when.
INVESTIGATIONS DONE BUT MOST OF THE TIMES NO ONE HELD ACCOUNTABLE. TRADERS LEFT IN RUINS.