In my opinion, not all tokens with no trading volume are dead projects, there are some tokens listed on exchanges with little or no volume
It could be fascinating to know that in a different exchange platform such token could be doing better. Secondly, some projects have erratic volume on an exchange. You may not see any 24hrs volume or even 7days volume, but all of a sudden, there would be a good volume and before long, it dies down and the circle goes on like that.
True but to be honest most of them are dead projects. Especially for the project that already complete the ICO and no update since that, there are so many projects like this. Most of traders and investors will ignore and never touch that once they seeing no trade volume on that coin and it will become a dead coin.