Shitcoin isnt the basis IMO of the market down. I dont see as new projects being a threat in the market movement. As you can see how many coins and tokens that has been traded in minor exchange doesnt have volume? I see that most project have this problem of regaining their high price due to investors too. Why? These whales after gaining so much profit with these shitcoins will surely abandon it no matter what happened. Sad thing is even the developer gone too along with the value.