"A market cap is both a quick way to gauge a coin’s value, and a more than it seems. A healthy market cap is indicative of a strong coin, but developers or whales holding coins can mislead. Always weigh market cap with some of the other metrics we cover before making an investment decision."
https://www.coinist.io/cryptocurrency-market-cap/

The second sentence in this paragraph is what strikes me to why I believe investing in an ICO MAY, just may, create the potential "temporary out of the market cap."

If we look at this second sentence, it appears as though that once we invest in the ICO, that specific company we invest in has a means to manipulate the market in numerous ways (of note, I do not use the term manipulate in a derogatory sense here). But rather, if that company needs funds to move forward with their porject, how many are using the invested crypto, turning it into fiat, and using that fiat to continue with the project as forms of payments to employees, etc?

I think this is just one of many examples as to how the ICO investment game may be creating the false perception of the recent drops. But again, I may be completely off.