On February 9, the Central African Republic's president announced the release of an official meme coin. However, the announcement has sparked doubts regarding its authenticity due to deepfake suspicions.
Launch of CAR's Meme Coin by President
In a post on X, President Faustin-Archange Touadera stated that the $CAR meme coin launch would unite people and support national development. He emphasized cryptocurrency's importance to the country, citing Bitcoin's legalization. Nevertheless, further analysis has raised suspicions about this statement.
Deepfake Suspicions
The presidential video announcement was flagged as suspicious by two deepfake detectors, Seferbekov and Ensemble, with 82% and 60% fabrication probability, respectively. However, other checking tools, including Avatarify and Deepware's own checker, did not confirm the deepfake, leading to debates about the message's authenticity. Some suggested that the president's account could have been hacked.
Current Status and Meme Coin Valuation
Despite doubts, the $CAR meme coin achieved a peak valuation of $600 million before falling to $298 million. According to the project's tokenomics, 33% and 25% of all tokens are in two wallets, but the liquidity designated for the pool has not yet materialized. This raises further questions about the project's long-term viability.
The situation with the meme coin in the Central African Republic remains uncertain due to authenticity concerns and fears of possible fraudulent activity. Clarity is crucial for the project to achieve its stated mission of supporting national development.
