Houthi is a name of a tribe, a surname of the tribe’s leader, as well as the name of a movement associated with that tribe.
The Houthi movement is a Shi’a Islamist movement from Yemen (where about 1/3 of the population are Shi’a, and 2/3 Sunni). The movement has been on the opposing side to the Yemeni government in the long Yemeni Civil War.
Allegedly it’s supported by Iran (which Iran officially declined) and it’s mottos include “Death to America” and “Death to Israel”. That should explain roughly why they are causing a stir in the Red Sea region.
I know what the meme is supposed to represent, but the Tolkien nerd in me feels the need to correct the universal misunderstanding of the picture used.
Frodo isn’t saying he can’t read the inscription on the One Ring because it’s in Elvish. He actually is pretty fluent in Elvish in the novel, but the inscription on the Ring was in the Black Speech, which he couldn’t recognise.