yeah it can.. .i've never experienced the dipstick moving, but my oil was overflowing into the catchcan... over 1ltr, so it was spilling out of the catchcan... after a leak down test, it turns out one of the cylinders was less than perfect....
so i'd get it check if i was you... for me it was ONLY happening under hard right hand turns (at a track) so we wouldn't have picked up on it, if not for that!
edit: should add, i had the normal amount of oil in, so maybe it is just excessive oil for you... to be honest, its not something i'd risk... get it checked out!