The Central African Republic (CAR) has begun a nationwide cryptocurrency experiment. President Faustin-Archange Touadera has announced the launch of a member called $ car to assess whether the global monument fanatic can help improve the country’s financial situation. According to the World Bank and the United Nations Development Program, approximately 80% of the auto population lives in multidimensional poverty, below the international poverty line. In 2022, after lead in El Salvador, cars adopted Bitcoin as fiat tender to strengthen their struggling economy.
More information about Memecoin experiments
On Monday, President Kudra announced on X that his administration will launch $car Memecoin as an experimental program. The project aims to determine whether adults can promote unity, promote national development and enhance the global presence of the Central African Republic in a unique way.
Today, we are launching $Car – An experiment aimed at showing how something as simple as a meme can unite people, support national development, and put the Central African Republic on the world stage in a unique way.
Contract: 7obydehv4GKXC19ZFGAVXPJWP2RN9PM1BX2CVNXFPUMP
-faustin-archangetoouadéra (@fa_touadera) February 9, 2025
President Kudra said in a video: “This car has always believed in the power and importance of a strong community. Based on this belief, I am proud to announce the launch of the official car member.” Exciting chapter’ .
According to Coingecko data, the Central African Republic meme (CAR) is depicted by the flag of the car. Each of these tokens is currently priced at $0.1164 (approximately Rs 10). Memecoin’s 24-hour trading volume hit $830,173,992 (approximately Rs 72,62 crore), a growth rate of 118.60% from the previous day. The data also shows that the maximum supply limit for this meme token is one billion, of which 999 million are already in circulation.
Memecoin is launched through the Solana-based platform Pump.Fun. Although Touadera’s intentions behind this cryptographic experiment seem unconventional, the consequences are confusing.
$ car Memecoin controversy
Solscan data shows that the first four token holders collectively own 76.5% of the revolving supply. Shortly after its release, the price of the token rose and fell within a few hours, attracting attention among members of the global cryptocurrency community.
Many factors lead to price fluctuations. This includes the official news handle for $$ Auto News being disabled on X. The handle has been blocked by X to violate unexplained policies.
According to President Touadera, they are working with X to restore accounts.
We are working with @x to get @carmeme_news Return as soon as possible.
At the same time, the token supply has been securely locked @StreamFlow_fiAccording to the distribution plan, emission groups and release schedule are detailed on our website.
-faustin-archangetoouadéra (@fa_touadera) February 9, 2025
Meanwhile, social media users speculated that the president’s announcement video seemed to be generated. After AI DeepFake detection platform Deepware allocated a 60% skeptic rating, their skepticism grew. However, the platform stopped classifying videos as deep boards. However, the platform does not mark the video as a deep board.
Uncertainty continues to revolve around the authenticity of the memes, and community members express their doubts. The market performance in the coming days will be more clear about its legitimacy.
About Memecoins
Memecoins are cryptocurrencies that are often inspired by internet jokes or trends, while Dogecoin and Shiba Inu are the most famous in the world.
The hype around Memecoins often makes headlines as these tokens attract investors eager to bet on the next investment ready to “go to the moon.” However, adults are highly volatile and often exploited by scammers who lure investors before abandoning the project with the classic carpet buckle program.
Recently, US President Donald Trump and First Lady Melania Trump also named themselves, jumping on the commemorative trend.
