KEYTAKEAWAYS
- Central African Republic President Launches Meme Coin CAR
- 35% of CAR allocated for national development
- CAR listed on multiple exchanges including MEXC and Raydium
- Largest holder owns 33.31% of CAR tokens
- CAR's emergence marks the rise of "PolitiMeme" (political meme coins)
CONTENT
Central African Republic President Launches Meme Coin CAR. 35% of CAR allocated for national development. CAR listed on multiple exchanges including MEXC and Raydium. Largest holder owns 33.31% of CAR tokens. CAR’s emergence marks the rise of “PolitiMeme” (political meme coins).
Following Trump’s launch of the official meme coin TRUMP, an X platform account claiming to be Central African Republic President Faustin-Archange Touadéra (authenticity unconfirmed) posted a tweet announcing the launch of a meme coin called CAR, aiming to push the Central African Republic onto the world stage through this experiment. The tweet included the token contract address, triggering market frenzy. CAR’s market cap briefly approached $1 billion before falling back to $280 million. However, questions remain about CAR’s authenticity and the motivations behind it.
Source: X
CAR MARKET REACTION: COEXISTENCE OF FRENZY AND SKEPTICISM
After CAR token’s launch, market funds rushed in rapidly, with market capitalization soaring to nearly $1 billion in a short time. However, as news spread, doubts began to emerge. Some suspected account theft, while others saw it as a worthwhile speculation. CAR’s market cap fluctuated amid FOMO (Fear of Missing Out) sentiment, eventually stabilizing around $200 million.
KEY CONTROVERSIES:
IS THIS AN OFFICIAL PRESIDENTIAL TOKEN?
While market fund flows suggest most believe in its authenticity, technical information has raised doubts. Domain provider Namecheap pointed out that the CAR domain was registered just three days ago, with a registration process inconsistent with typical state operations. Additionally, X platform has suspended CAR’s official account @Carmeme_news.
IS THE PRESIDENT’S VIDEO A DEEPFAKE?
The “promotional” video posted by the Central African President’s account was flagged as suspicious by AI detection tools. The wording and timing (local midnight) of the video also raised doubts, further weakening its credibility.
Source: CAR
IS THE TOKEN ECONOMICS MODEL REASONABLE?
According to CAR token’s official website, the total supply is 1 billion tokens, with 35% allocated for national development, 25% for creators and companies, 20.7% for liquidity provision, 10% for charity, and only 9.3% for public distribution. However, the 20% of tokens for the liquidity pool haven’t been injected yet, raising market concerns about transparency.
Furthermore, according to GMGN information, the largest holder currently owns 33.31% of CAR tokens, the second largest holds 25%, and the third and fourth largest hold 9.82% and 8.4% respectively. This highly concentrated token distribution has further intensified market concerns about manipulation risks.
SPECULATORS’ CARNIVAL: SOME STRIKE RICH, OTHERS MISS OUT
After CAR’s launch, it was quickly listed on multiple exchanges, including CEX exchanges such as MEXC, Ourbit, LBank, CoinEx, BitMart, BingX, and DEX platforms like Raydium, Meteora VD, and Orca. This wide range of trading channels provided convenient trading opportunities for market participants and further boosted CAR’s popularity.
Regardless of CAR’s authenticity, market trading continues. Some early participants earned enormous returns, while others missed opportunities by selling too early.
- Wallet One: Invested $5,000, profited $12 million, achieving a 2,450x return.
- Wallet Two: Missed out on over $40 million, but still profited $440,000 through swing trading.
- Wallet Three: Earned $3 million from a $5,656 investment, achieving a 500x return.
- Wallet Four: Profited $3.08 million, achieving a 7,786% return.
Additionally, some whales chose to sell TRUMP and buy CAR instead, further increasing market enthusiasm.
THE RISE OF POLITIMEME AND CRYPTOCURRENCY MAINSTREAMING
Although CAR token’s authenticity remains unconfirmed officially, the market frenzy it triggered once again proves the appeal of meme coins. Following the Trump family’s TRUMP, CAR’s emergence marks the rise of “PolitiMeme” (political concept meme coins). Whether it’s speculators’ carnival or the push towards cryptocurrency mainstreaming, the CAR incident has become another landmark moment in cryptocurrency history.
We can boldly speculate that CAR’s launch has injected new vitality into the Central African Republic’s economic development. Leveraging the global appeal of meme culture, CAR has transcended language and cultural barriers to become a tool for uniting global communities, potentially helping the Central African Republic gain more attention and cooperation opportunities on the international stage.
For low-income countries, the launch of $CAR has multiple implications: it provides convenient financial services to rural areas by bypassing traditional banking systems, addressing insufficient financial coverage; stimulates local economic activity through token distribution, promoting regional economic circulation; utilizes blockchain technology to achieve transparency in aid distribution, reducing corruption risks; and also provides new possibilities for national economic diversification, exploring more innovation-driven development paths.
As stated in the pinned tweet from the Central African President’s account: “Bitcoin is universal currency.” In this cryptocurrency wave, everyone is both a participant and a witness. However, investors still need to remain vigilant against risks. CAR token’s highly concentrated distribution, incomplete liquidity pool injection, and uncertainty about its authenticity all remind market participants: while pursuing high returns, it’s essential to conduct proper risk assessment.
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