Key Points:
- The CAR token website’s inaccessibility raises transparency concerns.
- Six addresses linked to the CAR creator control a large token supply.
The CAR Token, initiated by the Central African Republic’s president, faces transparency issues, with its website currently inaccessible and malware risks reported by SlowMist Yuxian. Concerns intensify as 80% of the token’s supply is concentrated in six addresses linked to its creator.
Similar transparency concerns exist with the TRUMP Token, which experienced a surge in value to $70 but left 810,000 wallets at a loss while retaining 80% of the supply with Trump’s team.
Trader Turns $5K Into $12M on CAR Token Launch
On February 10, 2025, Central African Republic President Faustin-Archange Touadéra announced the launch of the CAR meme coin on X, sharing its contract address.
He called CAR an experiment to boost national development, unity, and global recognition, reaffirming his support for cryptocurrency as the second world leader to adopt Bitcoin as legal tender. On the other hand, Touadéra claims the tokens are locked and distributed via Streamflow.
Following the announcement, CAR’s price surged massively, and its market cap briefly hit $700 million before stabilizing at $300 million. During the time, a trader reportedly bought 46.57 million CAR tokens for 25 SOL (~$5,000) within a second of the contract release and sold part of it within three hours, making over $12 million in profit (a 2,450x return).
However, data from DexScreener shows that approximately 80% of the CAR token supply is concentrated in six addresses linked to the project’s creator, which raises issues regarding the decentralization of the token’s distribution.
The largest wallet holds 33.31%, and the second-largest has 25%. While Touadéra claims the tokens are locked and distributed via Streamflow, market concerns over liquidity and concentration remain.
Crypto Community Questions Legitimacy of CAR Meme Coin Initiative
Concerns regarding transparency have emerged around the recently launched CAR meme coin initiative, which is spearheaded by the President of the Central African Republic.
The project’s rapid rollout has led to skepticism among members of the cryptocurrency community. Notably, the official website, registered through Namecheap, is currently inaccessible, raising questions about its security and legitimacy.
Investigations by SlowMist Yuxian indicate potential malware risks associated with the website, complicating existing concerns surrounding the initiative.
The overall lack of transparency and clarity about the project’s intentions and operational strategies has a continuing unsettling effect on prospective investors and stakeholders in the cryptocurrency market. Additionally, users should remain vigilant against phishing threats that could exploit the project’s obscurity.
TRUMP vs. CAR: Meme Coin Frenzy Sparks Volatility and Debate
| Feature | CAR Meme Coin | TRUMP Meme Coin |
|---|---|---|
| Launch Date | Announced on February 9, 2025 | Launched on January 17 |
| Announced By | President of the Central African Republic via official X account | President of the United States via official X account |
| Purpose | Experiment to unite people, support national development, and enhance CAR’s global presence | Celebrates “everything we stand for winning” |
| Market Performance | Market cap briefly reached $700M, later stabilizing around $300M | Peak market cap over $14.5B |
| Tokenomics | – Total supply: 1 billion tokens – Allocations: 35% national development, 25% creators & businesses, 20.7% liquidity, 10% charity, 9.3% public – Centralization concerns: Top 4 addresses hold over 70% of supply | – Total Supply: 100M – Allocations: 80% insider, 20% public |
| Controversies | – AI deepfake detectors flagged the President’s announcement video as suspicious – Centralization risks and liquidity issues | Criticism of being a cash grab and ethical concerns |
The TRUMP meme coin debuted on January 17, drawing influential attention within the cryptocurrency community after its announcement via a social media post. Marketed as a token that represents “everything we stand for winning.”
Shortly after, TRUMP’s price skyrocketed to $70, leading to a peak market capitalization exceeding $14.5 billion. However, data later indicated that over 810,000 wallets were reporting financial losses linked to their holdings of the TRUMP token.
Similarly, but to a lesser extent, CAR had a sharp pump-and-dump. After surging to a peak near $0.90, the CAR token experienced a sharp correction, stabilizing around the $0.23-$0.25 range. As of this writing, CAR is trading between $0.2375 and $0.2523, with recent fluctuations ranging from $0.20 to $0.30, according to Dexscreener data.
| 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. |
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