May 19, 2024

The Worthless Shiba Inu Token Gets New Life Thanks to Activist Traders

In the world of cryptocurrencies, even a token initially labeled as worthless can experience a remarkable resurgence, fueled by a determined community of enthusiasts. Calcium (CAL), originally created as a dummy token by the Shiba Inu development team, was initially intended for testing purposes and not meant for trading. However, its unexpected journey took a dramatic turn.

Unplanned Trading Activity and Community Dissent

Despite its humble origins, over 50% of Calcium’s supply was quickly acquired by a bot shortly after its launch, landing it on the decentralized exchange (DEX) ShibaSwap. Surprisingly, traders entered the fray, hoping to capitalize on Calcium’s unconventional rise. Unfortunately, many ended up incurring losses. Notably, some members of the Shiba Inu community cautioned against treating Calcium as an investable asset.

Activist Shiba Inu Community Emerges

A resilient faction within the Shiba Inu community, claiming to have suffered losses, utilized their holdings of CAL tokens to create a new trading pair on Uniswap. This move swiftly gained momentum, attracting over 1,400 holders in less than 12 hours.

The Impact and Unforeseen Success

The sudden surge of interest in Calcium led to a 99% drop in the price of the original CAL token, which had an on-chain liquidity of just ,800 on ShibaSwap. In contrast, CAL tokens on the Uniswap DEX witnessed $4 million in trading volumes and accumulated $164,000 in liquidity. CAL tokens on Uniswap now boast a capitalization of nearly $2 million, underscoring the unpredictability and resilience of the cryptocurrency community.