Abandoned by Shiba Inu, picked up by traders: The CAL story
Hell-bent on making gains from a narrative, traders ignored calls to leave the Shiba Inu-developed token alone. Here's how Calcium rode the SHIB wave to a $1.5 million market cap.
- Although developed as a dummy token, CAL has become a token producing profits for certain individuals.
- Traders did not heed calls to stop trading the token.
Shiba Inu [SHIB] developers are finding it hard to convince traders who don’t want to listen that a token deployed at the testing stage is not worth investing in.
Read Shiba Inu’s [SHIB] Price Prediction 2023-2024
The token in question — Calcium [CAL] — has been picked up by traders looking to make quick profits and is actively trading on a few DEXes.
Traders pick up the pieces
But that’s not the genesis that brought Calcium into the equation. Calcium, a dummy token, was released by Shiba Inu with no real liquidity. According to a 16 September blog post by Shiba Inu developer Kaal Dhairya, CAL was not meant to be traded.
Instead, the token was created for the sole purpose of minting, and renouncing and minting the Bone ShibaSwap [BONE] contract. In the same blog post, Dhairya warned that anyone selling CAL as a token should be considered a “scam.”
He specifically wrote that,
“This token is being created only for a specific purpose to mint and renounce BONE please do not trade this token as it will not have any future value or need. If someone is selling this please consider this a scam.”
Unfortunately, the developer’s warning fell on deaf ears, as some traders decided to go ahead and trade CAL while centering around the dummy token narrative.
In fact, pseudonymous trader bagofbread posted on X (formerly Twitter) that the Calcium community had the backing of Shiba Inu token deployers.
$CAL has come to represent hope for those who have been hurt by how shytoshi has handled shib since the ryoshi left. $CAL is a second chance and a truly decentralized token for the people with real $SHIB provenance.
— bagofbread (⚰️,⚰️) (@Bagofbread2) September 22, 2023
After calling it the “truly decentralized token”, CAL’s market cap jumped to $1.5 million. At the time of writing, CAL’s price was $0.016— a 3,437% increase in the last 24 hours.
CAL’s chain of command is different
While the narrative seems to be working well for the traders, Shiba Inu lead developer Shytoshi Kusama had to intervene in the matter. According to the telegram message shared by another user @DextMoon on X (formerly Twitter), Kusama asked that the token contract be revoked.
But the traders involved were not having it. Instead of listening to the developer, they took turns gibing at him, saying he was pained that CAL had been a success without his input.
Lol shytoshi is mad we are pumping the coin he deployed and said don’t buy $CAL https://t.co/iVHMoDWVAj pic.twitter.com/BrH90MjNjf
— Manifesting (@DextMoon) September 22, 2023
Realistic or not, here’s BONE’s market cap in SHIB terms
As it stands, it is unlikely that the individual encouraging investors to buy CAL will stop anytime soon. Additionally, the Shiba Inu community has called on the developers to renounce the contract.
But Dhairya noted that it would take a number of steps before final renouncement. In the meantime, the developer reiterated his earlier blog post statement in a tweet, noting that,
“As previously mentioned in the screenshot below, we are in the process of renouncing BONE. Please do not buy or trade the Calcium token (seriously), there is no liquidity, and claims of large losses are FUD.”
