A Whale will put up a Buy wall at a set price like say he doesn't want the price to Rise past 650$ he will take anywhere from 50 to a couple hundred coins and PRETEND TO SELL THEM @650 then another 100 coins at 651 and 20 coins @ 652 and so on and so on creating a Wall that would take Tens of THOUSANdS of DollArs to MOVE that pretty much can't be done unless your very wealthy or THE PUBLic bUYS lIKE CRAZY!He can do this because he has hundreds of thousands of dollars if not millions..........
If people start BUYing UP HE PULLS THE COINS FROM EVER BEING SOLD and Never Loses!He doesn't really want to Sell thEm! Just Use them to keep the price leveraged and pancaked in his BUYING RANGE Knowing the public doesn't have the Funds to Buy The COINs and move him! The PRICE WON"T MOVE. This gives a ILLUSION of PANIC SELLS also and People who don't know better end up selling into it below this price and The Whale BUYS more and he Rinses and REPEatS it or he even Sells all the way down till thiers no BUY Support left so he can establish his own price level for when people try to sell their coins later they have to abide to the price created and he or they can BUY CHEAP!
This might explain it to you better
http://en.wikipedia.org/wiki/Pump_and_dumpThat is stupid.
You say that he puts up a lot of coins at around $650, for example, to keep the price from rising past that. But then you write that when people start buying at that price he takes the asks down. Obviously he fails at trying to keep the price below $650 if he has to take down his wall to avoid selling.
Prices not moving doesn't give the illusion of panic sells, even if you write it in all caps. Furthermore, selling to drive down the price usually ends up in a loss because the price falls before the sale. Think about a flash crash. The seller dumps a bunch of coins on the market at really low prices and buyers buy up the coins at those low prices. The price returns to normal and the seller loses. This kind of manipulation only happens in movies because in reality it is a huge gamble and the odds of success are low.
Finally, please read your own link (
http://en.wikipedia.org/wiki/Pump_and_dump). You don't understand pump and dump. An excerpt:
"Pump and dump" (P&D) is a form of microcap stock fraud that involves artificially inflating the price of an owned stock through false and misleading positive statements, in order to sell the cheaply purchased stock at a higher price. Once the operators of the scheme "dump" their overvalued shares ...