Calcium (CAL): From Shib Army Creation to Community Takeover

Due to the unique design of cryptocurrency, some cryptos can develop in highly unexpected and unusual ways. The saga of Calcium (CAL) has been one of the most controversial crypto events of 2023. Part of the crypto world is hailing it as a community-led token that will be the next big investment, while the developers behind the project are begging people not to buy it. What's going on with the Calcium token — and should you get involved? This guide will explain all the details so you can decide whether investing in CAL is worthwhile.

Key Takeaways:

• Calcium is a dummy token created for the Shiba Inu ecosystem. It was originally designed to help with the process of renouncing BONE token contracts.

• Calcium has attracted lots of attention from Shiba Inu community members who are unhappy with how its ecosystem is being run.

• The Calcium token experienced a 7,400% increase in price after the community takeover.

What Is Calcium?

Calcium is a dummy token created for the Shiba Inu ecosystem. Originally designed to help with the process of renouncing BONE token contracts, Calcium has attracted attention from Shiba Inu community members who are unhappy with how its ecosystem is being run.

To understand what Calcium is, it's necessary to take a close look at the Shiba Inu ecosystem. This dog-themed decentralized finance (DeFi) project contains many different features, including a main token called SHIB, a community-led DAO labeled Doggy DAO and a metaverse-focused blockchain named Shibarium. Just one of the many projects run by Shiba Inu, Calcium was originally intended to have only a small place within the Shiba Inu ecosystem.

Why Was Calcium Created?

Calcium was originally a dummy token that wasn’t meant to have any value as an investment or DeFi tool. Instead, it was created to manage BONE, the governance token for Doggy DAO. People interested in joining the SHIB Army and engaging with the Shiba Inu ecosystem have to stake BONE to vote on DAO decisions.

To help run the smart contracts behind this system, developer Kaal Dhairya created the CAL token. The Shiba Inu system can use Calcium for minting BONE and renouncing BONE token contracts. Its purpose was to essentially lock away smart contracts and prevent any manipulation of the DAO. This token isn’t even applicable enough to count as a utility token or governance token. Instead, it’s solely used for testing and organizational purposes.

The Viral Nature of Calcium

When the concept of Calcium was first discussed, it received almost no notice. Things changed after the token was officially launched on the Shibarium blockchain on Sep 15, 2023. When the token appeared on the ecosystem's decentralized exchange (DEX), ShibaSwap, a bot picked up over 50% of the supply.

This huge purchase attracted a lot of attention, and trading activity soared. Crypto investors who weren't aware of how the Shiba Inu ecosystem functioned started desperately buying CAL thinking it was the next big thing. On the Uniswap DEX, Calcium managed to acquire $154,000 in liquidity and reach trading volumes of $4 million.

As Calcium started to go viral, the Shiba Inu team took note. Dhairya released a public statement in a detailed blog post asking people not to trade the token, and even took to his social media to warn them again a few days later. He cautioned investors, saying, "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 as a scam.”

This announcement caused the value of Calcium to sharply decline. The exact amount of money lost following the Shiba Inu announcement is unknown, but some SHIB Army members claim that investors lost hundreds of thousands of dollars.

The Community Takeover of Calcium

The controversy around Calcium's release and viral explosion ended up attracting certain community members who were displeased with how the SHIB team was managing its system. They realized that Calcium's unique position within the Shibarium network could provide them with some helpful benefits.

Since Calcium is part of the ecosystem, it's easily available to the SHIB Army. Furthermore, its status as a "discarded" coin made it appealing to those who were feeling let down by the departure of Shiba Inu’s founder a few months ago. As one community member, @Bagofbread2 explained, "$CAL has come to represent hope for those who have been hurt by how shytoshi has handled shib since the ryoshi left." By continuing to trade Calcium against the wishes of Shiba Inu’s team, users feel they can protest the way the ecosystem is currently running.

After the community takeover of Calcium, prices drastically increased. In just 24 hours, Calcium trading soared as the token increased 7,400% in price. Initially, a lot of the encouragement for buying Calcium was coming from just a few disgruntled community leaders. However, as the developer got involved and kept trying to stop sales, more people began to participate due to the perceived humor of the situation. Since Shiba Inu was already a meme coin ecosystem to begin with, the Calcium situation has turned into the ultimate meme.

What Does Calcium Aim to Achieve?

SHIB Army members are discussing plans to turn Calcium into a truly decentralized token. They feel that other Shibarium tokens are too susceptible to influence from developers, so an abandoned dummy coin could better represent community members' wishes. If they capitalize on these plans, Calcium could continue to be a widely traded token — despite the developer's wishes. It could potentially be used to gauge interest in Shiba Inu as a whole and affect the prices of other related coins, like SHIB and BONE.

CAL Price Prediction

After a lackluster start with prices of approximately $0.03, Calcium prices quickly soared. With so much user interest, prices shot up shortly after launch and have remained high for several days.Calcium’s token price is currently hovering in the $0.04 to $0.07 range. Its all-time high of $0.075375 occurred on Sep 29, 2023 with an ATL of $0.03763611 on Oct 3, 2023.

It's worth noting that Calcium's pricing history has followed the same price trajectory as other meme coins, such as Pepe. If it continues to follow a similar path, it will probably reach its ATH sometime within the next few weeks, which will most likely be followed by a sudden drop, a significant rebound and then a gradual decline. Even if Calcium's movements don't precisely mimic Pepe's, expect big increases in the near future. Experts at Crypto News forecast a strong bullish movement in the upcoming days, with strong potential to generate profit.

However, keep in mind that CAL prices have relied heavily on community opinions. Each time Shiba Inu developers have spoken out against trading Calcium tokens, there’s been a large drop in prices. With lead developer Shytoshi stating that he plans on releasing a formal announcement soon, there’s a chance that Calcium prices could drop sooner than expected.

Is CAL A Good Investment?

Due to its unusual status as a highly-contested meme coin, CAL is classified as a high-risk investment. Some users could buy the token before its price spikes and generate profit from this coin's unexpected price changes. However, its cost will inevitably plummet, and when that happens, many people will lose a lot of money. According to the SHIB team, anyone trading the Calcium token is basically participating in a scam.

Much of the coin's worth relies on a few disaffected community members, and if people lose interest or the Shiba Inu team is able to address community concerns, Calcium will likely lose its future value. Some investors who have extra funds to play around with might enjoy obtaining a bit of Calcium for fun, but this isn’t a safe token in which to invest large sums of money. For those who want to try trading Calcium tokens, it's important to exercise caution. Avoid using it for long-term investments, and consider hedging your bets with additional investments in more reliable coins. Finally, as always, do your own research before investing.

Closing Thoughts

Initially created to test some new features for the BONE token, Calcium has gone on a wild journey in the past few weeks. The combination of activism from certain community members and a highly unpopular development team has encouraged many people to start Calcium trading. Whether you're part of the SHIB Army or not, there’s a chance to profit from this unexpected price increase. Just remember to exercise caution and avoid overextending yourself on an unreliable meme coin.

#Bybit #TheCryptoArk