Alt coins in general are holding their own against fiat. Since the 0.00044 buy wall came down for CAT, it will probably be in free-fall for a while.
If CAT survives, you will probably be making money if you buy and hold at any price under 0.001. The question is if you have the guts to hang on. I personally got out as the 0.00045 wall came down, just so I could be in position to buy back in.
I believe CAT will survive. If climbing or falling, it still has respectable volume. That's all cryptsy cares about. Value is not an issue for the exchanges, only volume.
Cheap CAT + survival + time = profit.
You saw that equation here first, folks.