Calcium (CAL), a test token created by Shiba Inu, is taking on a life of its own as an independent memecoin despite being branded a “scam” by one Shiba Inu developer.
The token quickly ran out of Shiba Inu’s control after launch.
Calcium weakens Bone
Shiba Inu has lost control of a so-called “dummy” token designed to “mint and renounce BONE.” But with CAL tokens available on ShibaSwap, some traders ignored Shiba Inu’s pleas and purchased the tokens anyway.
This despite the fact that Shiba Inu developer Kaal Dhairya specifically said, “Do not trade this token as it will not have any future value or need.” The Shiba Inu developer went on to say, “If someone is selling this[Calcium],] please consider this a scam.”
Scam or not, some community members swiftly aped into Calcium.
The decision went poorly for all involved. Those holding Calcium tokens quickly lost their money. Reeling from this entirely predictable disappointment, community members decided to create a new trading pair on Uniswap and launch Calcium for real.
Familiar ideas with new Calcium
Calcium already has a website and social media profiles of its own.
The website offers a mission statement for Calcium and its community, explaining the reasoning behind its revival.
“We’ve seen how things have gone down with $SHIB. Promises of Shiboshi, $LEASH, the metaverse, and now Shibarium – all ended up being nothing more than failed experiments,” says the Calcium website.
“We put our trust, our hopes, and our money into these ventures, believing in a brighter crypto future. But what did we get? Disappointments, one after another.”
Calcium adds, “Enough of empty promises. Enough of shattered dreams. Let’s build on this unexpected opportunity,” before concluding, “Let’s make $CAL the token that $SHIB was supposed to be—a genuine community-driven success.”
Calcium could be attempting to follow in the shoes of other memecoins created in popular opposition to existing projects. For instance, PEPE rode a wave of negative sentiment towards Bored Ape Yacht Club (BAYC) to join the largest memecoins by market capitalization.
If this is the case, Calcium still has some way to go. Calcium is just shy of a thousand followers on X (formerly Twitter). A significant amount less than Shiba Inu’s 3.7 million.
On Uniswap, 24-hour trading volume for Calcium sat at $4 million as of this writing. The price of CAL was $0.0117, down from a high of $0.02.
A compelling narrative?
On X, ‘bagofbread’ is making the case for Calcium as a response to Shiba Inu’s recent record, which has disappointed and alienated some community members.
In the X thread, bagofbread describes the new token as “the bastard child of the Shib lineage.”
The ‘Calcium Army’ is counting on stealing disaffected Shiba Inu members over to their cause.
Bagofbread continues: “$CAL has come to represent hope for those who have been hurt by how Shytoshi has handled Shib since Ryoshi left.”
Whether this constitutes a truly compelling narrative that investors will support, only time will tell.
Earlier this year, Shiba Inu founder Ryoshi deleted all his social media accounts and left the project, just a few months after a conflict with Bitboy Crypto led to the social media influencer doxing the founder on his channel.