The leader of the Central African Republic is launching the Meme-Coins ‘experiment’

The President of the Central African Republic Faustin-Archange Touader launched a meme-coin offered to raise the country’s profile, which is one of the poorest worlds.

Memema coins are used to build popularity on a viral internet or movement trend and fans are inspired to collect and provide value, but are extremely volatile investments.

Touadera has announced launch, known as $ car, on his X account during the weekend, and Monday said it was “success”. But the value of the coin had a significant decline in price up to 90%, according to specialist sites.

In 2022 year, the car became another country in the world after El Salvador adopted Criptocurrency Bitcoin as a legal tender.

That initiative – launched under the name of Sango – does not seem to be as successful as planned, and its website is no longer working.

This was seen as an easier way to attract investors in mining in the country and other industries using Bitcoin. The country has rich mineral deposits, including gold and diamonds.

Foreign investors could also receive citizenship for the CRIPTO worth $ 60,000, although the plan later ruled unconstitutionally by the Court in the country.

This week, Touader described the launch of meme-coins as a “experiment” of something that “can unite people, support national development and put (country) on the world phase in a unique way.”

But some expressed fears that it could be a scam.

Touader thanked those who believed in their vision on Monday.

He shared a high school video he said quickly deteriorating, saying the meme-coin would help to support his “reconstruction and equipment” and give “students” whether “students” give a chance “.

Despite its potential, the car remains one of the poorest countries – a situation complicated by a civil war who left most of the country.

Meme coins are often criticized for their speculative nature, where users create or buy them in the hope that their value will increase and earn quick – but many loses money on them.

Immediately before his inauguration last month, American President Donald Trump launched his own meme-coin whose value had grown rapidly, which allegedly asked billions of dollars for him. The New York Times reported that she was now worth a quarter of his highest value.