Recently there have been a craze and buy rush for any coin new listed on Binance but usually turns to a nightmare for those who FOMO too early. $MBL which was listed today because they won vote for community coin dumped from 59 sats to 30 sats within some minutes. This was the case with LTO too. My little advise to traders, (especially newbie traders) is to analyze properly before diving into buying a newly listed coin on Binance especially and other exchanges with such hype. Even if you must do, use tight SL and moreover there is no point chasing a moving train.
Its just a normal thing that price got dumped when it hits exchange for the first time due to its short term investors so nothing new craze here.But I wonder who buy those tokens on the first day itself,a real trader who have the intention of making profits will wait and analyse its market movement at least for a few days before buying them.So noobs grow up and start making money.