For me, I never invest in any ICO project, even they are not a scam project or not, when the ICO is over, when the investors received their coin will dump it in the market, so I only invest the coin are listing in the exchange only.
Investors dump their coins after the end of the public sale, for the reason that the price of the coin increases thousands of times from the moment of the pre-sale. And if you did not buy the coin at an early stage of the sale, then you should not buy it immediately after the listing. It is necessary to wait for the moment when it is corrected, having reached the support level.