I think that is a possibility.
I can recall that a friend of mine had this exact rear-end side-hop problem with his Explorer, and the cause turned out to be a broken anti-sway bar link.
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The ballast helps the ride. Iām just hoping it doesnāt need any thing more than shocks. I bought the truck from a friend last spring for $1500 drove it from Oregon to Montana, and then poop hit the wind machine. I have put $2000 and lots of hours into it so far. The thing is only worth the $1500. I replaced the bearings and all brake components all around and looked at the suspension while the wheel were off. Didnāt see anything. Maybe I didnāt want to see any thing. 
NO NO NO! I donāt want to have to replace everything under there. Tired of working on this thing. Iāll just take it to a priest, have him bless it and then sell it as soon as possible.
An anti-sway bar link is actually a pretty small component. So, I donāt foresee that you would be replacing āeverything under thereā, and the cost (if I am correct about it being a broken link) shouldnāt be very high.
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Does this truck have a rear anti-sway bar?
One thing thatās easy enough to do, get out your tape measure and with the truck parked on a level surface, check if both sides are riding at the same height. I think it is normal for there to be some difference front vs rear, but if the ride height is different right vs left, that would provide a clue where to focus to determine whatās wrong. Just a guess, but as mentioned by others above, it sounds some kind a rear leaf-spring or shock absorber problem to me.
Well the shocks came and I put them on that night. That was the problem. Now I feel a lot safer. Thank you everyone for the input. Michael
Thanks for posting your solution.
@andriy.fomenko seems to be the big winner here. With that big check heās getting we can look forward to him taking us all out to dinner this weekend.
so my poke into the dark room resulted in loud MEOW!!!
few weeks before I removed struts/shocks from my ānewā 2006 Pathfinder with 150K miles and they were so rusted that I could barely move the rod on one of the back ones, thus the guess
congrats on getting it fixed to @mrgrudz!