Hi there,
Yes, buying on the listing date, especially on top exchanges, is always risky because most tokens tend to get dumped badly.
The clever ones are those who buy when the listing news is announced and make a profit. Being active in various Telegram groups also helps, as you can get early information on which tokens are going to be listed on major exchanges. Monitoring the news channels of Binance, KuCoin, Bybit, MEXC, etc., is also beneficial.
I have been burned badly trading during big exchange listings. The first few minutes are extremely volatile.
I hope you find the right answer you're looking for.
Cheers!