According to CryptoPotato, Shiba Inu developer Kaal Dhairya has warned investors against trading services with the memecoin Calcium (CAL). The asset was launched on September 22 and quickly amassed a market capitalization of almost $4 million, but its price performance went on a downtrend in the following hours.

Dhairya took to Twitter to remind users that the Calcium token (CAL) was created 'only for the specific purpose to mint and renounce BONE.' They alerted that it will not have any future value, and people should not conduct trading services with it. 'If someone is selling this, please consider this as a scam,' the developer concluded. A pseudonymous Twitter user, 'Shib Informer,' issued a similar warning, stating that CAL is for 'internal use' and not for trading.

Calcium (CAL) is among the latest memecoins to enter the crypto market. It is deployed by the Shiba Inu team and aims to accelerate the advancement of BONE, the native asset of the ShibaSwap decentralized exchange. There are currently hundreds of memecoins, with the first one, Dogecoin (DOGE), launched in 2013.