The interest of traders to the token is the most decisive factor, because the more people are willing to buy it, the faster its price increases.
Traders may want to sell a token. This is also an interest, but the price of tokens will not increase in this case.
Much better if there is investor interest in the asset. I suspect that the concepts of the trader and the investor are mixed again.
In a falling market, the most important thing is not what traders purchase any day there, but the volatility and volume of trading. Without them, even a good and excellent project code will simply go nowhere and the price will be around zero.