Central African Republic launches memecoin as experiment, according to president's X account 🚀
The official X account of the President of the Central African Republic 🇨🇫 announced that the country has launched a memecoin 🪙 as part of an experiment to see whether it can benefit national development 📈.
“Today, we are launching $CAR 🇨🇫— an experiment designed to show how something as simple as a meme 😂 can unite people 🤝, support national development 💡, and put the Central African Republic on the world stage 🌍 in a unique way,” CAR President Faustin-Archange Touadéra’s X account wrote Sunday.
The Block has reached out to the Central African Republic government to confirm whether the memecoin is a legitimate endeavor by its government.
The CAR memecoin is described as “the official meme of the Central African Republic” 🎭 on Solana launchpad pump.fun, where it is being traded for around $0.45 💰. As of 8:10 p.m. on Sunday, ET, the Central African Republic memecoin had about $374.4 million in market capitalization 💵📊.
A follow-up social media post included a video 📹 announcement of the memecoin launch, apparently featuring President Touadéra himself.
“The Central African Republic has always believed in the power 💪 and the importance of a strong community 🏡,” the video announcement said.
While the memecoin project also created a dedicated X account to share daily updates 📢 and announcements 📜 on the token, it has since been suspended by the social media platform ❌. President Touadéra’s X account said the project is working with the platform to revive the account as soon as possible ⏳.
The Central African Republic made headlines in 2022 when it became the second country in the world to accept bitcoin ₿ as legal tender, following El Salvador 🇸🇻.
Later that year, the country, under President Touadéra’s leadership 🎩, launched Sango Coin 🏦 as its national cryptocurrency to create a digital economy 🌐 based on the tokenization of its minerals ⛏️.