That's not how I read what was being explained. Actually the idea is the whale is "accumulating" shares throughout the day then large blocks are transfer at a contracted PPS average at the end of the trading day.
It actually makes the most sense out of all the ones I have researched so far.
I do not believe some one is dumping shares, but I do not admit to be any kind of expert with absolute conviction. So (almost)every theory is still on the table, including the fact that we may never know.