Is it possible to recover the ranking?

I started backlink in April.
I've been on page 7 or 8 for a long time.
I went up to the first three pages in October.
My ranking dropped to eight pages in the November Google Spam update.
My site ranking is 108th.
A week ago, we did a spam link rejection for the Google Search Console.
In this case, can I recover the site? Or should we create a new site and start all over again?

It's possible, but it takes a lot of work.

First, you need to figure out what caused your ranking to drop in the first place. There are many possible factors - from changes in Google's search engine algorithms to website errors that can penalize your site's ranking.

Once you've identified the cause, you need to take corrective action. This could involve making changes to your website content or structure, or implementing an SEO strategy to improve your site's ranking. It may also involve disavowing links from spammy websites or cleaning up any bad backlinks that are hurting your site's reputation.

Finally, you need to keep up the good work and continue improving your website and SEO efforts over time.

You should post this in seo section.

Yes, it can recover with good amount of quality backlinks.