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Shiba Inu Activist Traders Transform Dummy Token into Reality: The Rise of ShibActiv

Sep 25, 2023 at 08:37 am

The Shiba Inu development team initially conceived Calcium (CAL) as an experimental token, strictly for testing purposes, with no intention for it to be used in trading. However, traders swiftly recognized this unexpected opportunity, resulting in a significant turn of events. This scenario, which is distinctly emblematic of the cryptocurrency space, emphasizes how a token that was initially overlooked by its creators can gain importance thanks to a dedicated community.

Despite warnings from specific Shiba Inu community members, traders still attempted to leverage CAL tokens, only to realize that their efforts led to financial losses. A group of community members, claiming losses, took the initiative to establish a new trading pair on Uniswap using their CAL holdings. In an astonishing twist, the CAL token rapidly garnered over 1,400 holders in less than 12 hours. These participants were steadfast in their goal to turn Calcium into a genuine project, expressing their disillusionment with Shiba Inu's assurances.

This series of events culminated in a remarkable 99% drop in the original CAL token's value, with on-chain liquidity on ShibaSwap plummeting to a mere $4,800. Meanwhile, CAL tokens on the Uniswap DEX recorded impressive trading volumes, totaling $4 million, and accumulated $164,000 in liquidity.

Uniswap's CAL Tokens at $2M Market CapUniswap's CAL Tokens at $2M Market Cap  

The Genesis of Calcium

The Shiba Inu development team publicly announced their intention to issue calcium tokens as part of their effort to relinquish the contract ownership of bone (BONE), the governance tokens overseeing the recently launched Shibarium blockchain. In the realm of cryptocurrency, renouncing a smart contract involves surrendering control, providing investors with a sense of security against potential manipulation.

The developers left no room for ambiguity, emphasizing that CAL was created solely for the purpose of minting and renouncing BONE, and should not be used for trading, as it holds neither future value nor necessity. Any attempt to transact it was vehemently labeled as a scam by developer Kaal Dhairya.

In the world of crypto, a project's success does not solely rely on an endorsement from its developer. Community members have the power to rally around a token, provide liquidity on decentralized exchanges, and collaborate with external developers to explore a variety of applications. A vocal member of the Calcium token community, @1BlockChainKing, highlighted how individuals came together to support CAL and even transformed it into a movement against the $SHIB team, in response to recent actions perceived as detrimental to the community and ecosystem.

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