For this reason alone it would be extremely hard to do. You will likely need several, several, several millions to effectively do this. Overall, it's possible to inflate anything. If your the only one owning something, or one of, people will price within your range, or take the only price available. There's a good possiblity that if you effectively take all the current Meowclops off trading post, and auctions, while observing user shops for sniping, you could get a good profit increase. The only problem here is guilds, they will see your attempts and try to stop you before-hand. It's up to you to decide though. It's also notable that the more expensive an item is, the harder to sell that it becomes. This logic is simply in the fact that "common-users" wont be able to afford them, so your market is alot smaller.
It's possible if you have enough capital to. I remember a while back there was massive inflation on an item (I don't remember which one), under the same circumstances. It was a guild that coordinated and inflated the item together.