This is one of the major determinant of project success. Apart from having enticing business plan, good team and solid community, the token or coin must be listed on a reputable exchange with good volume for it to be able to maintain its stance in the market
This is not necessarily true. There are some projects that raise a lot of capital and list on a large exchange like Digifinex, Coinbene, .. but still don't want to develop community and the value of the token. This is one of the common cases of projects that pretend to be reputable and are actually a fraud project.
I will present evidence for you to consider. WPP token, Bitnautic token. This is one of the projects that tricked investors in a very sophisticated way. so we should not analyze a sketchy project when they plan to list it on large exchanges. Check out their roadmap and how to develop their projects.