if everyone who bought has half a brain and refuses to sell under the IPO price, it wont go under the IPO price!!! Simples!
+10000
Anyone who sells under IPO price in the first days of trading should think about other profession than trading.
Manipulation can occur, but it can be easily stopped if no one sells !
Let's say a "whale" buys in IPO and tries to push price down, all you need to do is buy those dumps... they will run out of coins and it will take him a brief moment to understand that he is gonna be in huge loss.
Than the only thing he can do is drive the price up with all his means.
It's you, the investor, who decide if a manipulation scheme will work out or not.