One of the resons why after the start of the listing the price of the tokens falls because bounty hunders start to sell the tokens.
Bounty hunters do not want to wait a long when the price of the tokens will grow. That is why they sell tokens.
There are different bounty hunters. Some of them prefer to wait when the price of the tokens will grow.
If project is good all bounty hunters prefer to wait when the price of the tokens will grow.
it is a very definite wait for hunters, to wait for prices to rise in proportion to us, because hunters have helped with their respective abilities...
Sometimes it is better not to wait and sell tokens. In future tokens may not only to grow they may fall. That is why many bounty hunders prefer to sell tokens just to get some money.