It's back to square one if you are holding a coin or token for long term and finally altcoin season comes and the token or coin surge in value but has no trading volume on exchange, all your efforts and pain while holding is total waste, do not hold tokens or coins that have no demands, real use cases are what makes them very demanding
Right, because not many tokens or coins have real casings, so we need to research and be more careful in choosing tokens or coins to hold for a long time, because it would be very painful if a token is expensive but the volume is not there.
The market volume is simply a reflection of the demand and volume highly affects the market price of a token. If the market value is high, but the volume is low, the price itself cannot be trusted because there's a tendency for the market value to increase or decrease, or to make it simple, low market volume will not accurately determine the market value of a token. The higher the volume the more it determines the price of a token for that moment. With that being said, investing into such would more likely expose the investor into risk.