I heard from group members that $STO the whales were colluding with market makers to manipulate and profit off of it.

Here's how it started:
The market makers' move was quite straightforward:
Initially, they slowly accumulated positions on some small platforms, avoiding mainstream markets to reduce costs and stay under the radar.
Once they had enough chips, they started pushing up the price on the main exchanges to attract retail investors to buy in.
While driving the price up, they were actually selling and hedging simultaneously, distributing their holdings at high levels.
During this process, the original STO whales couldn't handle this level of capital and gradually lost control of the market, eventually giving up resistance.
The whales had built about $3.98 million in short positions at the 0.46 level, and they were directly taken out!
The group members claim to be institutional investors!
But I don't know if it's true or not!