Could be that people are pushing down to accumulate for the upcoming airdrop next Friday.
I don;t think so,. it's likely because they got to much free coins,..
as far as I know, there is no short selling action in crypto market,. (borrow the coins and sell it, with hope the price will go down, after that they covering their short sell with buy back again at a lower price),.
the scenario may like this,.. they set the bid price at very low price (this could happened because demand and supply is not balance, low demand compared to supply), and they sell their own coin,. to them selves, this action is possible to drive the price down