Shiba Inu (SHIB) has released a new token called “Calcium.” The new token plays a vital role in the minting of the remaining ShibaSwap Bone (BONE) tokens, which is the governance token for Shibarium, SHIB’s layer-2 network.
Calcium, as per a recent blog post, is a dummy token with no real liquidity. The token was created to renounce BONE so that the ecosystem could become more decentralized. Shiba Inu (SHIB) developer Kaal Dhairya has asked users not to trade this token. Moreover, if anybody is participating in the sale of Calcium, it should be considered a scam.
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Lead developer Shytoshi Kusama has highlighted that Calcium is not meant for trading. The token merely exists to assist in the renouncing of BONE. Despite the warnings, many investors have fallen prey to illicit players selling Calcium tokens.
Shiba Inu’s Shibarium continues to hit new milestones
According to Shibariumscan.io, the total number of transactions on the network has surpassed 3 million. The increase in transactions is also reflected in the rise in SHIB burns. Yesterday, Shiba Inu’s (SHIB) burn rate reached over 300%. Although this metric has hit four digits in the past, burns have been significantly low for several weeks.
Additionally, the total number of wallets on Shibarium has reached 1.25 million. Both milestones are commendable given that the network went live about just a month ago.
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However, the growing Shibarium numbers do not translate to an increase in SHIB’s price. The token has struggled to cross the $0.000008 level and has been on a downward trend for most of this year. Many were hopeful that the Shibarium launch would bring forth a rally for the popular meme-coin. But that was not the case. At press time, SHIB was trading at $0.00000730, down by 0.7% in the last 24 hours.