It is possible it's a project a lot of smart and big time investors believe in the future, for them to have garnered such a huge interest in a very short time.
It is not unusual anyway as we have seen projects like this several times and are usually projects with working product and a huge prospect and not just some promises from a team. Also, because the market is generally taking a huge hit does not mean people will stop believing and investing in projects for the long term.
So do you think such project might still flop or is it a guarantee of some future success more or less?
Nothing is ever a guarantee and you can never judge to invest in a project just because it raised certain amount in a shortwhile; at least I have seen projects that lied on the amount raised just to use it as a marketing strategy to attract investors and that is highly unethical as far as I am concerned.
What is important is for you to do your own due diligence and see if there is a prospect based on the following;
- the team, their past achievements and the readiness to keep bringing further development.
- the availability of a product and how this product will make impact which is what would drive in demand in the first place.
- the main idea, the team's vision and the roadmap.
These are the things that will give you an idea if it would be a project worth investing or not. Nevertheless, you should understand that every investment is a risk and you cannot ascertain what the future holds for any project. The only thing all these I mentioned above will do is to minimize the whole risk and give you an upper hand in your decision making.