So many factors play rule in the price after listing a new project,

First: The one who get the token as bounty some if not to say all will sell the token because it became a tradition that the price will dump after listing,even if they believe in project they will dump and buy again in low price.

Second: Some investors get the token in private sale with low price and bonus, and if the private-sale token is not lock by the team, know that token will dump.  

Third: Team member may sell and dump the price because they need fast cash and do not care about project they are developing.