If I'm correct, it's almost the same thing with bitcoin? It reached 0.01$ once but since then, its price is decreasing.
Low demand + unlimited and huge supply. It will always go down as long as these two conditions hold.
The demand is low because it is not something unique or has something interesting. (other than being a meme coin)
It might jump and surprise everyone though.
It did a few times before when nobody was expecting it.