yes it is very common and it is a logical thing to happen too.
when something is listed on an exchange that means people are capable of selling it now. and they will surely sell and at the same time, there are less people willing to buy it either because they know the dump is going to happen or see it happening and wait for a lower price. whatever their reason, the result is the same. there is more sells than there are buys so the price drops at first.
later after this dumping phase was over, if the project is decent it will rise and go higher than the initial value. if it is not, then it will have a small recovery and then drop some more.