Every new coin when hit the exchange or every new stock when hit the stock market takes sometime to get stable and move forward. Hence in the first few days of launching on the exchange Psyche will face the same extent then it will go stable. How Psyche will manage the price? The ERC20 is mintable and burnable which allows controlling the price.
If the coins are burnable than sure it can manage the price, even it can go above the $1. Until now, the project is exciting and very active. I don't mind to bet $100.