TikTok’s popularity is already waning in the U.S. Installs of the app are down 33% YoY in November, from 6.6MM in November '21 to 4.5MM in November '22. -0.3% YoY worldwide.
In fact, Facebook, Instagram, and WhatsApp outgrew TikTok and even YouTube during this period:
It's down across the board except for Facebook apps, meaning Meta probably increased their advertising budgets during this timeframe relative to the others.