BTC

$86573.091

-0.13%

ETH

$2006.504

-0.40%

XRP

$2.336

-3.14%

BNB

$634.676

1.57%

Altcoin

Central African Republic Now Has Its Own Meme Coin

2 mins mins
Central African Republic Now Has Its Own Meme Coin

Key Points:

  • The Central African Republic introduced a meme coin as an experiment to explore its potential for national development and global recognition.
  • A trader turned a $5,000 investment into $12 million within three hours after the token’s launch on the Solana-based Pump.fun platform.

The Central African Republic (CAR) has introduced a meme coin as part of an initiative to explore its potential benefits for national development.

Read more: Kanye West Claims He Rejected $2 Million Offer to Promote Meme Coin Scam 

Central African Republic Introduces Meme Coin for National Development

Central African Republic President Faustin-Archange Touadéra’s official X account announced the launch on February 9, describing the digital asset as an “experiment” aimed at positioning the country on the global stage.

The token, named CAR, debuted on the Solana-based meme coin launchpad Pump.fun at 10:25 p.m. UTC. Blockchain analytics firm Lookonchain reported that shortly after issuance, a trader turned a $5,000 investment into $12 million within three hours, achieving a staggering 2,450x return. The trader secured 46.57 million CAR tokens within seconds of the coin’s release by spending 25 SOL, valued at approximately $5,000.

Challenges Persist for Cryptocurrency Adoption in CAR

The initiative follows the Central African Republic’s 2022 decision to become the second country in the world, after El Salvador, to adopt Bitcoin as legal tender. That same year, the government launched Sango Coin as the nation’s official cryptocurrency.

Despite these efforts, the widespread adoption of digital assets in CAR faces hurdles, including low internet penetration, limited mobile device access, and unreliable electricity.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Rate this post
Follow us on Google News

car

Central African Republic

Faustin-Archange Touadéra

meme coin

Solana

Avatar of John Kojo Kumi

John Kojo Kumi

10 February 2025, 03:13:03 GMT +0000

John Kojo Kumi is a cryptocurrency researcher and writer specializing in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem. With years of experience in crypto journalism and blockchain research, he provides in-depth coverage of decentralized finance (DeFi), NFTs, and Web3 innovations.

He holds a Bachelor of Arts in Geography and Rural Development from Kwame Nkrumah University of Science and Technology, Kumasi, bringing a multidisciplinary perspective to the evolving digital asset space. As a Crypto News Writer, he tracks and reports on industry trends, while his role as a Registrar at the Commission on Human Rights and Administrative Justice reflects his commitment to governance and transparency.

His expertise spans content strategy, SEO optimization, and technical research, enabling him to craft insightful, data-driven analyses. Passionate about blockchain’s transformative potential, he strives to equip readers with the knowledge to navigate the complexities of digital assets and decentralized technologies.

Other Posts: