I wouldn't say it is a scam, but more like a pump&dump strategy. Everything that fluctuates that fast, ALWAYS hides risks. Therefore, don't go for it. If I were to recommend you initial coin offerings, I'd go for these:
1. Cointed - Green mining and Crypto ATMs all over Europe. Partners: Nvidia and TAS Group
2. Giftz - loyalty token - you can actually earn rewards by purchasing it, which is amazing. Also, augmented reality into the BlockChain. Partners: BlockV
3. Bee Token - fully decentralized home-sharing network.
Haha, I also bought CTD and Giftz. Very nice projects, indeed! I'd say that you might wanna consider AgroTechFarm, as well! ATF enables automated Cannabis cultivation at home. ATF is a security token that strives to conquer three of the fastest growing markets - cannabis, organic food and blockchain. By joining the crowdsale investors will get 30% of the companies profits.
Whereas for the post, I also bought XMRG, however, I sold it out immediately as I saw the price rising that rapidly.