Overview:
The Central African Republic entered the crypto universe with the memecoin $CAR, launched on February 9, 2025. Introduced via President Faustin-Archange Touadéra’s official X (Twitter) account, the token, according to him, has been designed to bring citizens together, drive economic development, and increase global participation in the country.
Launched on the Solana-based platform Pump.fun, $CAR has risen in the market within hours, with a market capitalization of $527 million. However, this fast growth has been criticized for deepfake allegations, skepticism, and lack of legitimacy.
📉 Market Fluctuations and Growing Skepticism
Despite an explosive debut, $CAR’s price and market cap dropped significantly within a day. By February 10, 2025, the token fell to $0.2794, reducing its market capitalization to $311.98 million.
🔍 Key Concerns:
⚠️ The timing of $CAR’s launch coincides with a rise in crypto scams, including recent hacks targeting the X accounts of former Malaysian Prime Minister Mahathir Mohamad and Solana DEX aggregator Jupiter.
⚠️ Similar tactics—such as high-profile endorsements, sudden social media suspensions, and disappearing websites—have fueled speculation that $CAR might be part of a larger scam.
🕵️ Deepfake Allegations & Website Shutdown
Doubts over the legitimacy of $CAR intensified when AI detection tools flagged President Touadéra’s announcement video as potentially AI-generated:
✅ Seferbekov AI detector: 82% chance the video was fake
✅ Ensemble AI checker: Found inconsistencies
✅ Avatrify & Deepware: Did not detect manipulation
Additionally, just weeks ago, the official website disappeared, followed by suspension of the project’s X account. Even now, President Touadéra confirmed that the suspension is in place, noting that discussions with X support are ongoing towards account restoration.
💰 Are $CAR Government-Backed or a Crypto Scam?
As of now, there is no official confirmation on whether $CAR is a government-backed project or a fraudulent scheme. The lack of transparency has left crypto analysts and investors wary, urging caution before investing.
📊 $CAR Tokenomics Breakdown (Solscan & Dexscreener Data):
📌 33.31% of tokens held in a single wallet
📌 25% in another wallet
📌 9.81% and 8.39% in two additional wallets (one possibly designated for charity)
📌 The promised 20% liquidity allocation has NOT been added to a pool yet
⚖️ CAR’s Crypto History: A Pattern of Uncertainty
The Central African Republic has a history of crypto experiments:
🔹 April 2022: CAR adopted Bitcoin as legal tender and launched Sango Coin, promising citizenship to token holders.
🔹 March 2023: CAR repealed Bitcoin’s legal tender status after facing pressure from the Economic and Monetary Community of Central Africa (CEMAC).
Given this background, investors are wondering whether $CAR is a legitimate national crypto project or simply another failed experiment.
⚠️ Final Thoughts: Proceed with Caution
While $CAR skyrocketed in value to begin with, deepfake accusations, website shutdowns, and suspensions on social media sites have all raised serious warning flags. Until such a time that the body provides an official verification, serious caution should be adopted, and much research conducted before interaction with $CAR occurs.
🚨 Is this a groundbreaking innovation or just another crypto scam?
Let’s wait for further developments. Stay tuned. 🧐🔥
Also Check:
- PAWS Listing Date Update: $85K Giveaway for the Community
- Blum TGE Date & Listing Date: What to Await in Q1 2025
- TapSwap Listing Date: Deposit $TAPS on Bitget with No Gas Fee!
- Nonfarm Payroll Post-Release Effects on the Cryptocurrency Market
- SEED Listing Date Nears as 2.2M Seedizens Secure Mon NFT Box Spots!
- Pi Coin Launch Update: Will Mainnet Finally Go Live in February 2025?