Shitcoins are basically coins with no active development behind them, but are instead, copies from other coins, and scripts, Litecoin for example.

They are made to be pumped and dumped, which means that ((whales)) - big players with alot of $$$$, will give the coin artificial value, then lure in new people, and dump the coins on them.

If you are at the right place at the right moment, there's alot of money to be made, on the other side, there is also alot of money to be lost, since the coin is extremely unstable.

That's why people are so negative about it, the price could dump very low every minute, if big players decide to jump out. Which is something you won't see with actual developed coins, (POSW) (ETH)