This is not always true; I sold my airdrop of $TIA and $UNI early, but they both made ATH of 7x after, while for $ARB you are right, the moment it got listed it had a pump to around $7 but suffered huge dump after, and we are yet to see it reach same peak again.
What I mean to say is, we can't predict for sure whether one should sell early or sell later.
Evaluating the potential of a project is not difficult, but predicting the future price movement of a token is much more complex. This is because many worthless tokens, such as memecoins, can still experience strong price increases, while valuable tokens, such as ARB or PYTH, can experience sell-offs and see their prices fall multiple times from their ATHs. Even fundamental analysts find it difficult to predict short-term token price movements. They can typically only make long-term predictions when the value of the project is reflected in the token price.
By effectively managing their portfolios, hunters can find ways to maintain an appropriate allocation of assets in crypto. For example, if a hunter wants to hold 50% of their assets in crypto, they could sell 50% of their reward tokens for USDT and only hold the remaining 50%. This could help them secure profits while still having the opportunity to increase their wealth through future token price appreciation.