To grow in price token must be useful for people to be in demand. Now NFT very popular and a lot of new collections appear that offers new interesting products and tools like
https://twitter.com/Buakaw113/status/1517463376066396160 which offers NFT from the fighting ring to the digital world.
There are a lot of tokens without practical use but over the time they die by themselves because people do not use them and now demand in them.
When cryptocurrency market rise a lot of new projects appear. Many of such projects just copy a good and popular one and do not have any practical use. But when market falls many of such projects die.