What is shitcoin?

Excuse me, could you please elaborate on what exactly is meant by the term 'shitcoin'? I've heard it being used in the cryptocurrency community, but I'm not entirely sure of its definition or implications. Are shitcoins a specific type of digital currency, or is it a pejorative term used to describe certain cryptocurrencies that lack value or credibility? Could you provide some examples of shitcoins and discuss why they may be considered as such?