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Calcium (CAL), originally created as a “dummy token” by the Shiba Inu (CRYPTO: SHIB) team, experienced a sudden surge in value shortly after its launch.
What Happened: In just 11 hours of its launch, CAL rallied to $0.014, marking a gain of 330%, according to data from DeXTools.
CAL was introduced as part of a strategic plan by the Shiba Inu developers to relinquish ownership of the Bone (CRYPTO: BONE) token contract.
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Why It Matters: Notably, more than 50% of CAL’s supply was swiftly acquired by a bot shortly after its launch, as previously intended. These tokens quickly made their way onto the decentralized exchange ShibaSwap. On Uniswap, CAL tokens amassed $4 million in trading volumes and secured $172,960 in liquidity.
Shiba Inu developers explicitly stated that the creation of CAL was solely intended for the specific purpose of minting and renouncing BONE, cautioning users against trading the token for future value or necessity. One developer, Kaal Dhairya, even warned against potential scams, emphasizing, “If someone is selling this, please consider this a scam.”
Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
