in reality, i do not think there are any coins called shit coin because it is not that valuable now does not in any way make it a shit coin. most times when projects are yet to be executed, it may make the value of a coin lesser than expected but when the project materializes it appreciated
Look at the Wave platform, if you want to know what shitcoin means. To scamming people, there are hundreds of tokens without any volume. Because, it is decentralized system and 1 wave is enough for creating new token.