This is business as usual after an ICO (it's even self-fulfilling prophecy), when a project isn't on many exchanges, didn't get much attention yet, money was bound etc. It will depend on the progress. If they should be quick and release an userfriendly QT (just for example) soon, the price will react and be back soon. If it needs more time it will drop further. But to believe this is like a little scamcoin where a bunch of anonymous Crypto-Cowboys cash out for 50 BTC and run away is ridiculous.