The answer to your question is that most people got them free. Look at how much work people will go through to get 0.001 BTC. If they can get 0.005 BTC, they call this the best decision ever and willingly dump because they got free money for nothing. This is a growing issue with free IPO coins.
Oh, I know why people are dumping... I got my coins for free too. Same with Comm and ITC. But it's insanely short sighted to dump when a coin is so cheap.
People dumped comm at 10-20 sats. It went up to around 250. So some people sold a stake for .1 btc, when they could have gotten 2-2.5 btc for it. And that's just one stake... some people got two for free.
ITC did reach 750+ sats, yet some sold at less than 100.
Free money is fine and all, but people should realize .005 btc means nothing really. If you wait, that .005 BTC can possibly be a full bitcoin, or in some cases, more. At the very least, wait until the free money you are getting is semi-meaningful.
People just don't care. Some of them are going to every single IPO to claim free stakes, then sell them for a dollar or so and move on to the next one. This is a huge issue with the freely distributed coins.
I'll hold my coins.
