Is Shiba Inu-Developed Token Getting More Support from Traders?

According to a media outlet report, it seems that the traders ignored calls to leave the Shiba Inu (SHIB) developed COL token alone as Calcium (CAL) rode the SHIB wave to a $1.5 Million market cap. The CAL token has become a token that generated profits for certain individuals. Thus, the traders did not pay much attention to stop trading the token.

The Shiba Inu developers are finding it hard to convince traders as they don’t want to hear that “a token deployed at the testing stage is not worth investing in.” The token in question (CAL) has been picked up by traders seeking quick profits and is actively trading on a few Decentralized Exchanges (DEXs).

Shiba Inu Dev’s Warning for CAL Token

According to recent activity, the traders are supporting CAL tokens. Calcium (CAL) token is a dummy token and released by Shiba Inu with no real liquidity. According to a September 16, 2023 blog post by Shiba Inu developer (Dev) Kaal Dhairya, “CAL was not meant to be traded.”

Dhairya further warned that anyone selling CAL as a token should be considered a “scam.” He noted in his post 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.”

Even after this open warning, the developer’s warning fell on deaf ears. Because some traders decided “to go ahead and trade CAL while centering around the dummy token narrative.”

The “$CAL Story”

A pseudonymous trader, named as bagofbread posted on X (formerly Twitter) also wrote about CAL token. As per his recent post shared on September 22, 2023, “the Calcium community had the backing of Shiba Inu token deployers.”

The $CAL story 🧵$CAL 0x20561172f791f915323241e885b4f7d5187c36e1
is shaping up to be a very interesting project. Here’s a brief explainer of what it is and what has happened.
I think it has a compelling narrative and The #1 thing I look for as a trader is a good narrative pic.twitter.com/jCo8eOTaHn
— bagofbread (⚰️,⚰️) (@Bagofbread2) September 22, 2023

In his X-post, bagofbread wrote “$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.”

In the end of his post, he continued “If you trade $cal (and i am), expect a bumpy ride due to low liquidity, but i think as the holder distribution improves (most former top holders are out now) it might trend upwards.”

According to CoinMarketCap, at press time, Calcium (CAL) is trading at $0.012097 with a 24-hour trading volume of $4.07 Million. Calcium is up 58.21% in the last 24 hours.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.