Cryptocurrency being a subject of speculation and its trend is determined by the level of demand and supply are the reason why volatile, so I won't blame anyone for manipulating the market. This is the reason why every trend showcase by the market provides a new experience to professional traders.
Which why naive and newbies are advised to seek knowledge first because crypto is not for lazy people.
It is definitely the supply and demand why the pumps and dumps are happening in the market. It cannot be blamed to anyone because supply and demand are affected by the quantity of coins, the capacity and decisions of all participants in the market where such decisions can be influenced by trends, influencers or any other available information. Thus, market manipulation in this case is subject to our submission to the aforementioned.