this is my own opinion but it may help others.
I have found that all the ICOs i have invested in have launched at almost the ICO price but in a few days dipped below the ICO prices by half or 5X for some.
With this i have discovered its better not to invest in an ICO but wait for the launch and the DIP to buy it at the corrected prices made by market forces.
Its just too hard to tell the real or recommended value of a token in an ICO these days.
Hope this helps to the new investors thinking of ICOs
That is the scenario now if the project is good people just wait for the coin to land in the market, so those early birds with huge bonuses and bounty hunters can dump and those whales can take hold of it in a much cheaper price and sell it at a profit in the future.