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.
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.
A lot of new tokens appear when cryptocurrency market rise and there is a big demand in cryptocurrency market.
But among good and prospective projects there are a lot of scams.
But during the fall of the market the demand in cryptocurrency projects is not so high.