According to CoinDesk, Calcium (CAL), a token created by the Shiba Inu team and deemed worthless by its developers, has been resurrected by a group of followers who have turned it into a serious project. The token was issued on Friday as part of a plan to renounce the bone (BONE) token contract. Over 50% of its supply was picked up by a bot shortly after going live, and the tokens were live on the decentralized exchange (DEX) ShibaSwap. Despite warnings from the Shiba Inu community, traders purchased the tokens in hopes of making a quick profit, only to end up losing money.

A group of community members who claim to have lost money used their CAL token holdings to create a new trading pair on Uniswap. The token quickly found over 1,400 holders in less than 12 hours. Participants in this new trading pair said they were 'tired of Shiba Inu's promises,' and intended to make Calcium a real project. This led to the original CAL token's price dropping 99% and having an on-chain liquidity of just $4,800 on ShibaSwap. However, CAL tokens on the Uniswap DEX racked up $4 million in trading volumes and amassed $164,000 in liquidity.

Shiba Inu developers had issued calcium tokens to renounce the contract ownership of bone (BONE), the governance tokens of the newly launched Shibarium blockchain. Renouncing a smart contract means that the contract's creator will no longer have control over it, giving investors a sense of security as the contract can no longer be changed or updated, and is saved from possible manipulation by the contract creator. Despite the developers' warnings against trading the token, community members rallied around it, seeding liquidity on decentralized exchanges (DEXs) and gathering outside developers to work on use cases.