The Central African Republic (CAR) has started a nationwide cryptocurrency experiment. President Fostin-Fournang Taudera announced the launch of a memecoin called $ car, which aims to assess whether global memecoin frenzy can help improve the financial position of the country. According to the World Bank and the United Nations Development Program, about 80 percent of the car’s population lives in multidimensional poverty and below the international poverty line. In 2022, after the lead of Al Salvador, the car adopted bitcoin as a legal tender in an attempt to increase its struggling economy.
Details about Memcoin Use
On Monday, President Taudera announced on X that his government was starting a $ car memecoin as an experimental initiative. The purpose of the project is to determine whether memecoin can promote unity, run national development, and in a specific way can increase the global appearance of the Central African Republic.
Today, we are launching $ Car – An experiment that is designed to show that memes can unite some simple people, support national development, and put the Central African Republic in a unique way on the world platform.
Contract: 7obydehv4gkxc19zfgavxpjwp2RN9PM1BX2CVNXFPUP
-Faustin-Archenge Touadéra (@fa_Touadera) 9 February, 2025
President Todera said in a video, “The car has always believed in power and the importance of a strong community. Based on this belief, I am proud to announce the launch of the official Memcoin of the car. The exciting chapter”.
According to the data from the coingecko, the CAR (CAR) of the Central African Republic is depicted by the car flag. Each of these tokens is currently priced at $ 0.1164 (about 10 rupees). Memcoin’s 24-hour trading volume touches $ 830,173,992 (about Rs 7,262 crore), which marks an increase of 118.60 percent from the previous day. Data has also shown that the maximum supply of this meme tokens is overshadowed in one billion, of which more than 999 million tokens are already in circulation.
Pump to Memcoin. Fun, was launched through a solana-based platform. While the intentions of Taadera may seem unconventional behind this crypto experiment, followed by chaos.
$ Car dispute around Memcoin
data on Solskain It is shown that the top four token holders have 76.5 percent of the circulating supply near the group. Immediately after the launch, the price of this token rose and fell within hours, increased eyebrows among members of the global crypto community.
Many factors contributed to the ups and downs in the price. These include the inactivity of an official $ car news handle on X. @Carmeme_news The announcement was made by President Taudera to ‘ensure clear and efficient communication’. The handle has been blocked by X for unemployed policy violations.
According to President Taudera, they are working with X to restore the account.
We are working together @X To get @Carmeme_news Back as soon as possible.
Meanwhile, the token supply has been safely discontinued @Streamflow_fiAs per the distribution plan, release a detailed schedule on the emission group, and our website.
-Faustin-Archenge Touadéra (@fa_Touadera) 9 February, 2025
Meanwhile, social media users have speculated that the President’s declaration video appears to be AI-Janit. His suspicion increased after AI Deepfek detection platform Darker It assigned a 60 percent suspicion rating. However, the platform reduced the video from classifying the form of a deepfack .. The platform, however, did not label the video as deepfec.
Uncertainty continues to surround the authenticity of Memcoin, in which the members of the community have expressed doubts. Its market performance in the coming days will provide more clarity on its validity.
About Memcoin
Memcoins are cryptocurrencies that are usually inspired by internet jokes or trends, with Dogcoin and Shiba Inu the most famous at the world level.
The promotion around Memcoin often makes headlines, as these tokens are eager to bet on investors to ‘go on the moon’. However, memecoins are highly unstable and are often exploited by scammers who entice investors before leaving the project in classic rug-pull schemes.
Recently, US President Donald Trump and first female Melania Trump also launched a Memcoin trend by launching the nominated tokens in their name respectively.
