Since Coinmarketcap added Liquidity to its indicators, you can see a lot of tokens with enormous daily volumes have no liquidity at all. Is it even worth to invest in this kind of tokens? Does that mean that most of the volumes are fake? Thanks for the answers.
Yes, no liquidity and high volume is a sign of wash trading. And no, you shouldn't invest into them. Ask yourself, would you invest into it without that volume? Who would buy your coin then as you can't sell into that volume, because there are no walls. The price action will just move lower if you set up a sell order.