Phenomenon of overused and popular words [closed]

What you describe is actually the definition of cliché.

From the Wikipedia article:

A cliché or cliche* (UK /ˈkliːʃeɪ/ or US /klɪˈʃeɪ/) is an expression, idea, or element of an artistic work which has been overused to the point of losing its original meaning or effect, especially when at some earlier time it was considered meaningful or novel. ... Most phrases now considered clichéd were originally regarded as striking, but lost their force through overuse.

Perhaps the word you're looking for is Meme.

"An idea, behavior or style that spreads from person to person within a culture"

Memes encompass a lot more than individual words, and I think fad word may also be useful if you're trying to be specific about individual words - but a fad word is a type of meme.

The official term for this is either semantic change, semantic shift, or semantic progression:

From the linked article (emphasis my own):

Semantic change, also known as semantic shift or semantic progression describes the evolution of word usage — usually to the point that the modern meaning is radically different from the original usage. In diachronic (or historical) linguistics, semantic change is a change in one of the meanings of a word. Every word has a variety of senses and connotations, which can be added, removed, or altered over time, often to the extent that cognates across space and time have very different meanings. The study of semantic change can be seen as part of etymology, onomasiology, semasiology, and semantics.

If you're talking about faddish clichés, it sounds like what you're looking for here is a hackneyed refrain.

The OED definition of hackneyed is:

Used so frequently and indiscriminately as to have lost its freshness and interest; made trite and commonplace; stale.

Clichés and memes have been mentioned, but really, the snowclone is the new cliché. Wikipedia says “A snowclone is a neologism for a type of cliché and phrasal template originally defined as ‘a multi-use, customizable, instantly recognizable, time-worn, quoted or misquoted phrase or sentence that can be used in an entirely open array of different variants’”, and mentions (eg) “comedy is the new rock ’n’ roll” and ”grey is the new black” as snowclones of the form ”X is the new Y”.

I suspect many fad (or vogue, trendy, rage) words arise or are coined via argot, cant, or jargon, and meet the needs or desires of youth voice advocates, the youth subculture, or of one in-crowd or another.