The CAR memecoin from the Central African Republic has erupted into the public, an unlikely centrepiece of both national pride and mounting suspicion. Days ago, President Faustin-Archange Touadéra’s official X account proudly proclaimed the launch of $CAR, pinning it as a watershed moment in the country’s pro-crypto ambitions. Yet what began as a viral curiosity has quickly descended into a web of domain suspensions, deepfake allegations, and intense scrutiny over whether this entire enterprise is more mirage than milestone.
An Unusual Debut on Pump.fun
The CAR memecoin was introduced on the Solana-based Pump[.]fun platform, a launchpad known for fostering both euphoria and alarm in equal measure. Markets initially soared. Within hours, traders propelled $CAR toward a dizzying $527 million valuation, at least until the project’s official website vanished and the memecoin’s dedicated X account was abruptly suspended. The token’s market capitalisation has since plummeted to around $275 million at the time of writing, underscoring the precarious nature of digital currencies that hinge on virality.
Skeptics quickly honed in on the coin’s domain registration (apparently purchased through the budget service Namecheap just three days prior to launch) and swiftly suspended for “abusive” activity. Adding to the fire, several AI-detection tools flagged President Touadéra’s announcement video as having an 82% probability of being a deepfake, though other detection software returned inconclusive results.
From Sango to CAR Memecoin: A Suspect Trajectory
Only three years ago, the Central African Republic blazed headlines for embracing Bitcoin as legal tender, becoming the second nation, after El Salvador, to do so. That experiment culminated in the creation of Sango Coin, another official token devised to monetise the country’s mineral wealth. Yet the parliamentary repeal of Bitcoin’s legal-tender status in 2023 sowed an undercurrent of doubt about the government’s long-term crypto strategy. Enter $CAR.
The project’s official channels insist that 35% of token supply is reserved for national development, a philanthropic flourish meant to elevate the Central African Republic in global eyes. Critics counter that real-world governance projects rarely hide behind brand-new domains, let alone rely on ephemeral social media accounts that vanish overnight.
Deepfake Suspicion and Market Volatility
The possibility of a deepfake (fabricating presidential support with AI) looms large in the rumor mill. This scenario, at first glance fantastical, has gained considerable traction amid rising global incidents of high-profile X hacks and deceptive deepfake content. Meanwhile, the memecoin’s swift value fluctuations have left many traders rummaging for an exit strategy. Early entrants have reportedly “cashed out” millions, fueling rumors of a coordinated pump-and-dump. As one X user put it, “They bundled over 80% of total supply … and still hold around 70%.”
Whether the CAR memecoin is a scam, a brilliant stroke of national marketing, or an unfortunate cautionary tale remains anyone’s guess. Yet the fiasco spotlights the broader challenges facing the crypto industry: how to validate authenticity, manage volatility, and ensure regulatory compliance across a technology that thrives on ephemeral mania.
Next Steps for the Cautious Investor
For now, observers are left to piece together the mosaic of contradictory signals. The national government has remained curiously silent beyond the initial Tweet, while the ephemeral $CAR presence flickers across social media feeds. As the dust settles, potential investors should exercise due diligence and question every layer of hype, from domain registration details to official endorsements cloaked in digital anonymity.
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Key Takeaways
- Uncertain Official Status – Despite an announcement from President Touadéra’s X account, evidence is mounting that the entire memecoin could be a hoax.
- Deepfake Allegations – AI detectors flagged the launch video as suspicious, sparking broader concerns about how easily high-profile endorsements can be faked.
- Market Whiplash – $CAR soared in valuation before crashing amid website takedowns, domain suspensions, and a suspended X account.
- Regulatory Gray Area -The launch follows the CAR’s earlier flirtations with Bitcoin and Sango Coin, highlighting erratic policy moves and a murky legal environment.
Current $CAR price: https://dexscreener.com/solana/bx5pazbqbuyh5yt93xcoshdka6d6vz9azbddg7ze9syh
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct thorough research before making any investment or deployment decisions.