Do you think that if a coin drops after going live, shorting it will definitely make you money?
From a god's-eye view, the larger trend is downwards, but there are many rebounds during the decline, with various spikes, leading to losses for both bulls and bears.
Take $pengu as an example; if you short at this position, you could get liquidated at five times leverage.
During the decline, there could be a 50%+ rebound at any moment, see how you short then.
And what about $ban? After it went live on Binance futures, how many people made money going long or short?