I think that it is not necessary to panic, but those who have invested in the ICO are not happy with the market now, but this is a period that needs to be experienced and in the future the market will be restored or we will get used to what we have now.
The main problem is that some coins may not recover from such a dip. Strong coins like ether willrecover for sure, but smaller ones may be delisted from exchanges and people will lose lots of money.