The term shitcoin refers to a cryptocurrencywith little to no value or a digital currency that has no immediate, discernible purpose. The word is a pejorative term often used to describe altcoins or cryptocurrencies that were developed after bitcoins became popular.

The diminished value of a shitcoin is often due to failed investor interest because it was not created in good faith or because its price was based on speculation. As such, these currencies are considered to be bad investments.

Source: https://www.investopedia.com/terms/s/shitcoin.asp