Traders have continued to flock to the Calcium token, a dummy token associated with Shiba Inu SHIB/USD, causing its value to soar by 200% within the last 24 hours. This surge comes even after a warning issued by the SHIB team regarding the token’s risks.
What Happened: The SHIB developer, Kaal Dhariya, took to Twitter on X to address the situation, stating, “As previously mentioned in the screenshot below, we are in the process of renouncing BONE. Please do not buy or trade the Calcium token (seriously), there is no liquidity and claims of large losses are FUD.”
The introduction of the CAL token was part of a strategic plan devised by the Shiba Inu developers to transfer ownership of the Bone BONE/USD token contract. Despite the developer’s warning, traders seemed undeterred and continued to invest in and shoot up the price of Calcium.
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Why It Matters: CAL tokens witnessed trading volumes of a staggering $10.29 million on Uniswap, an automated decentralized exchange. Additionally, the token managed to secure $857,930 in liquidity, further fueling the enthusiasm among traders.
Traders and investors are advised to exercise caution and conduct thorough due diligence before engaging in trading activities involving speculative assets like Calcium.
According to a distressed user on X, they shared their devastating experience of losing $115k on the recently deployed token, $CALCIUM. In a tweet directed at Shytoshi Kusama, they expressed their frustration, stating, “That was the rest of the money that I had saved up. Shytoshi Kusama, you really have no idea how your actions affect other people’s lives.”
In addition to the user who suffered losses, there were others who apparently supported this seemingly fraudulent coin. Another X user by the name of CryptoFundi shared their enthusiasm for the token, saying, “I strongly feel another Pepe kind of token arrived. It’s Calcium $CAL. I am expecting it to reach 100 M MC in 10 days.”
Photo by Furkan Cubuk on Shutterstock
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