Propose an edit: Central African Republic Coin

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Title Category One sentence summary Infobox, one "key: value" per line Article body, markdown, use [[wiki links]] and end with a ## References section

Central African Republic Coin (CAR) was a memecoin on the [[Solana]] blockchain launched on February 9, 2025 and promoted by Faustin Archange Touadéra, president of the Central African Republic. Announced as an "experiment" to support national development and put the country on the world map, it was the first memecoin fronted by a sitting head of state after [[Official Trump]] and [[Melania]], and it collapsed within days of [[LIBRA]], the Argentine token that ended the political coin era.

## Origin

Touadéra announced the token from his X account, extending the country's history of unusual crypto adventures: it had briefly adopted Bitcoin as legal tender in 2022 and launched the ill fated Sango Coin project. Doubts surfaced immediately. The project offered no team, roadmap, or documentation, the associated domain had been registered days earlier, and when Touadéra posted a video endorsement, several deepfake detection tools flagged it as likely AI generated, a claim the government's supporters disputed. Kenyan outlet BitKE and others initially suggested the presidential account may have been compromised; Touadéra continued to promote the token, indicating the endorsement was genuine.

## Market history

The endorsement video triggered a 1,210 percent surge that carried the market capitalization from about 68 million dollars to roughly 897 million within two and a half hours around February 10, 2025. The peak did not hold. Within 48 hours of launch the token had fallen about 95 percent, dropping through 350 million to around 37 million dollars, amid allegations of insider selling and scam accusations from onchain analysts. Those allegations were never adjudicated, and no party has been charged.

## Status

CAR continued to bleed after the crash and became effectively worthless over the following months, with no development activity or utility ever materializing. It is cited alongside LIBRA in coverage of February 2025 as the moment state level memecoins discredited themselves, and in [[the trenches]] the token serves as shorthand for the outer limit of the political coin experiment: a sovereign endorsement worth nine figures for an afternoon.

## References

- https://protos.com/central-african-republics-95-memecoin-crash-is-a-repeat-performance/
- https://www.coinspeaker.com/car-token-surges-1210-as-central-african-republic-president-backs-national-memecoin/
- https://coingape.com/car-meme-coin-crashes-70-after-scam-allegations-heres-all/
- https://www.marketscreener.com/news/latest/Central-African-Republic-A-president-a-memecoin-and-a-flash-crash-Crypto-Recap-49062077/
- https://bitcoinke.io/2025/02/the-car-memecoin/

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