The enthusiasm for the ‘Anti-Shib Movement’ is high, ‘Abandoned Child’ CAL becomes the most powerful weapon.

The 'Anti-Shib Movement' is fueled by high enthusiasm, with 'Abandoned Child' CAL as its most powerful weapon.

Author: Climber, LianGuai

Recently, a token called Calcium (CAL) quietly appeared and quickly became active on multiple cryptocurrency project platforms. It ranks first in terms of popularity on DEXTools and CryptoRank, and several trading platforms have also announced the listing of this token.

The popularity of Calcium (CAL) has sparked discussions among many KOLs, but the reason for its emergence is controversial. It was originally issued by the Shiba Inu team as a mimic token, but due to allegations of manipulation causing losses for CAL traders, community members were angry and set up a new pool on Uniswap to express their dissatisfaction with Shiba Inu.

The CAL new pool was established on September 22nd, and it rose to about 20 times its lowest point on September 23rd, which is considered a significant return in the bearish cryptocurrency market. However, both the project spokesperson and community members see it as a movement against the SHIB team, not only setting a target market value of $1 billion, but also seeing it as the next king of Meme after SHIB and PEPE.

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But is it really that easy to shake the iron throne of the leading Meme coins?

The Birth of Calcium (CAL)

On September 16th, the Shiba Inu team announced the issuance of the mimic token Calcium (CAL) as part of their plan to abandon the BONE token contract. However, unexpectedly, over 50% of the CAL token supply was acquired by a bot shortly after the token was listed and continuously dumped on ShibaSwap.

BONE is a governance token with voting functionality for ShibaSwap, which allows the Shiba Inu community (also known as the Shib Army) to vote on upcoming proposals, submit proposals, and access future NFTs. The more BONE tokens a user owns, the more important their vote is.

Although the Shiba Inu team repeatedly stated that Calcium (CAL) is just a test token and has no trading value, it couldn’t resist the enthusiasm of investors who favor Meme coins.

First, the Shiba Inu developers stated in a blog post that they would issue the Calcium token to abandon the contract ownership of the governance token BONE for the newly launched Shibarium network. Normally, abandoning a smart contract means that the creator will no longer have control over it, which can avoid possible manipulation.

Then the developers said, “The creation of this token is only for a specific purpose, which is to abandon the contract ownership of BONE (after it is minted). Please do not trade this token, as it has no value or demand in the future.” Developer Kaal Dhairya wrote at the time, “If someone sells this token, consider it a scam.”

However, some traders saw this as an opportunity. Typically, in the Meme sector, the more a token is considered worthless by developers, the more it is pursued by a group of enthusiastic speculators.

But the seemingly worthless CAL eventually caused significant losses for a group of buyers in the sell-off, so these community members joined forces and used their CAL tokens to create a new trading pool on Uniswap. At the same time, members participating in this new trading pair stated that they were “tired of Shiba Inu’s promises,” especially the whale’s manipulation of a large amount of CAL, so they intend to make CAL a real project.

Unexpectedly, the new project has developed rapidly and has gained over 1,400 holders within less than 12 hours of its creation. This has resulted in a 99% drop in the price of the original CAL token, with on-chain liquidity on ShibaSwap being only $4,800. However, the trading volume of CAL on Uniswap DEX has reached $4 million, with liquidity reaching $164,000.

Self-reliance

Members of the new Calcium (CAL) project state that a crypto project does not need the approval of original developers to run. Community members can unite around any token, provide liquidity on decentralized exchanges (DEX), and gather external developers to expand its ecosystem.

A community member of the Calcium token, @1BlockChainKing, posted on X, saying, “People bought, added LP, and created a Telegram chat, which turned into a movement against the SHIB team due to recent actions taken by the SHIB team towards the community and ecosystem.”

This movement quickly attracted the attention of the crypto market. On DEXTools, the heat of CAL in the Hot Liquidity column has risen to the top. And on CryptoRank, a crypto market data aggregation and analysis platform, CAL ranks first in the 24-hour trading volume list.

Since the creation of a new trading pool for CAL on Uniswap just four days ago, multiple well-known exchanges, including MEXC, LBank, BitMart, and Bitget, have announced the listing of CAL trading pairs.

There are also many community members participating in this “anti-SHIB team” movement. As of writing, there are 4,147 token holders in the project. The project’s Telegram channel has 4,137 members, with 700 members online in real-time. It can be seen that the originally meaningless and valueless meme has gained popularity.

In addition to its market popularity, Calcium (CAL) has also brought substantial returns to early investors. CAL opened at $0.0009379, rose for a period of time after whale entry, and then fell to around $0.003. It subsequently rose all the way to around ATH ($0.067), with a price increase of about 20 times in just two days.

The popularity and price increase of Calcium (CAL) have caught the attention of many KOLs who have expressed their opinions. @Goku_Research is very bullish on CAL and, given the discussions of other KOLs, posed the question of whether CAL could become the next SHIB. @BTC2Ai stated that it is worth long-term attention as it has not experienced a waterfall-like decline after sideways trading for so long. Degenomics2000 believes that the current decline is temporary, and the bullish sentiment may still play out.

However, in reality, due to the inadequate subsequent replenishment of liquidity and the continuous selling pressure, Calcium (CAL) has entered a downward trend in the past 24 hours. Since reaching its peak at 2 am on September 25th, it has been declining all the way. The current price is around $0.02, a decrease of 70% from the high point.

The decline is huge, but from other data, CAL still has a considerable popularity. The current market capitalization is $4.1013 million, the trading volume in the past 24 hours is $11.7321 million, and there have been 8,220 transactions.

Conclusion

There is no doubt that Calcium (CAL) has sparked a community frenzy, and community members are not just passive observers, but also participants in this movement. As a representative of decentralization, CAL symbolizes a spirit of resistance for these token holders.

However, whether this consensus can be accepted by more people ultimately depends on whether there is more liquidity joining. Currently, the development trend of Calcium (CAL) is not optimistic. But it is premature to declare the demise of Calcium (CAL), so let’s see it continue to fly for a while.

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