We always see the price rise for a short period after the listing in the exchanges or after IEO, but soon price be come down,
this may due to two reasons:
The first reason is that the coin or token has no real value.
The second reason is the large sale of those who got his coin free such as airdrop.
Isn't that true?
It's usually a case of the ponzi structure for most. There generally is no point for all these coins so yes they go up a little bit based on people initially seeing if they can make profit but once the sell off comes it's a true bank run everytime and nobody wants to be left holding a pointless bag.