I’ve noticed that a lot of tokens/coins (I’m not entirely sure which) have been surging significantly. take CATX, for example, which jumped over 1000% in just seven days. But honestly, I’m not familiar with these projects, and I suspect the reported trading volume might not reflect real activity. That’s why I’m hesitant to get involved as I don’t want to end up regretting it because I couldn’t sell at the right time.
You know how it goes: the faster something pumps, the harder it can dump especially when trading assets with no long-term sustainability.
https://coinmarketcap.com/?type=coins&tableRankBy=gainer_loser_24hIt's great that you're being cautious and doing your research before getting involved. Trust me, It's definitely wise to stay away from investments that you're not fully familiar with, especially in a volatile market where sudden surges can lead to significant dumps. As you pointed out, the rapid rise of projects like CATX can often be misleading, and if you're unsure about the sustainability or the legitimacy of those numbers, it's best to err on the side of caution as your instincts could be right.
I'll have a look at the project you mentioned.