What is a token worth?

Can you elaborate on the concept of a token's worth? I understand that tokens are digital assets, but how do we determine their value? Is it based on supply and demand, like traditional currencies? Or is there another factor at play, such as the underlying technology or the project they represent? Additionally, how do we measure the potential growth or decline of a token's worth over time? It would be great if you could provide some insights into this topic.