C++ bit shift operators not working with pointer; showing 'statement has no effect'

*data << 1; 

I am trying to bit shift the value pointed to by the pointer (uint8_t type). But, when I build the project it is throwing the warning 'statement has no effect'.

How do I resolve this? Or can I ignore this?

(Also, my build process is failing, but I think it's probably due to something else.)

P.S. I am working on an embedded systems project.