The main value most shitcoins has is in their low market caps, making them easy targets for pump and dumps. A tiny amount of money and effort going towards a social media campaign, slowly accumulate holdings, and then unleash the flood once you start pumping the price up and leave clueless people holding the bag. People are making digital billions at the expense of the less-connected, under-educated masses.
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That is speculative value... But many altcoins have inherent value and will endure as mediums of exchange and stores of value.