On February 10, the Central African Republic surprised the crypto world with its new memecoin, $CAR. Launched under the president's supervision, the initiative is an experiment aimed at supporting national unity and economic development.
Launch of $CAR Memecoin
$CAR debuted on the Solana-based platform Pump.fun, reaching a market cap of $590 million within a day. The memecoin was introduced as an experiment to unite people and enhance the country's global recognition.
Skepticism Over Legitimacy
Despite a successful start, the project has raised skepticism. The president's video statement was identified as a potential deepfake. Moreover, the website's domain was registered recently and the announcement was made in English.
Tokenomics and Raised Questions
The distribution of $CAR tokens raises concerns: 33.31% of all tokens are held in one wallet, and another 25% in another. This concentration raises fears about the centralization of the project.
The launch of $CAR has stirred both enthusiasm and distrust. Only time will tell whether the initiative will prove effective and genuinely government-backed, or whether it is merely a speculative maneuver.
