Funding will be one of the reasons why I agree. But, many projects actually could get their soft cap at least ad moreover hard cap very easily. But, after the finish of the token sale, they seem not really to be serious. Some of them are not going to list their tokens or coins as soon as possible in the exchanges. They commonly will need longer times for several months to get listed even in the small exchanges. This is about seriousness. If the team is exactly serious, with enough money, they have prepared the listing as soon as possible after the tokens ale in order to list sooner the token or coin. Byt in fact, most of them don't do it. That is why, enough funding but without any seriousness will also mean nothing.
We have seen this phenomena so massively happen and most of the projects will not continue to the exchange, end in the wallet, and never listed on exchanges, become shitcoin and dead projects.

Additionally, many new projects seem not to be so serious in developing and managing their project after listing. Moreover when the token listed in exchange is suddenly dropped very much. they seem not care again with the token and leave them