It's trading under *some* of the ICO price. Remember that the initial buy in for rounds 1-10 was $0.05 *and* a lot of people got bonus coins.
The initial selling is people cashing in free tokens.
Less than 25% of the tokens have been withdrawn from the wagerr.com site to the Waves platform.
Face it, the majority of people are holding as they have faith in the project.
It's *far* to early to write this one off.