I don't think the number of shitcoin projects are declining because there's around 21K coins right now on CoinMarketCap, few years before it's only 2K. Growing up from 2K to 21k for few years is really a huge number difference.

I think Shitcoins hype start since 2017 which is already 5 years right now and there's nothing changed so far.

Although I really hate shitcoins, but I don't see any sign shitcoins era will going to end.

Until everyone realize decentralization and privacy is a big matter, shitcoins era will end ASAP.