That can be the cause. Since Dash can be margin-traded it is profitable in both directions for traders. And it seems to be easier to cause a long downtrend than a rise now. Especially when there is no demand.
But also I don't get the purpose of the sell wall at 0.015. It's obvious price won't go there anytime soon. Then why doesn't he move it lower or sell into buy orders? All the support walls were either dumped into or mostly moved to 0.006 or pulled.