The Central African Republic (CAR) has once again captured global attention with the launch of $CAR, a meme coin intended to promote national development and digital inclusion. However, the token’s release has been overshadowed by security concerns, deepfake allegations, and a rapid market crash.
Thank you for reading this post, don't forget to subscribe!Is $CAR a revolutionary financial move or a high-risk experiment? Let’s break it down.
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What Is $CAR?
On February 10, 2025, CAR’s President Faustin-Archange Touadéra announced $CAR, a meme coin designed to leverage cryptocurrency for national growth. This follows CAR’s bold move in 2022 to adopt Bitcoin as legal tender.
While the project aimed to boost crypto adoption in Africa, it quickly raised security and credibility concerns, with platforms and investors expressing skepticism.
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$CAR’s Market Crash & Security Red Flags
- 95% Value Drop
Shortly after its launch, $CAR’s price plummeted by 95%, with its market capitalization falling from $350 million to just $37 million (Financial Times). - Social Media Suspension
The official $CAR social media account was suspended, adding to doubts about the project’s transparency. - Deepfake Allegations
Experts suspect that promotional videos featuring President Touadéra were AI-generated or manipulated, fueling speculation that the project lacks official backing (Financial Times).
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Should You Invest in $CAR?
Despite concerns, President Touadéra has expressed continued support for the $CAR initiative, with efforts to restore online platforms and stabilize the project. However, given the price volatility, security risks, and ongoing skepticism, investors should proceed with extreme caution.
What’s your take on the $CAR meme coin? Drop your thoughts in the comments!
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