Central African Republic Solana Meme Coin Jumps as President Fuels Rumors of Revival
The Central African Republic President is pursuing the official meme coin, hinting at its potential influence on future legislation. The Central African Republic Meme (CAR) token surged 20% to a $15.8 million market cap following the announcement. President Faustin-Archange Touadéra shared a post on X, suggesting that a decree related to the token could be significant. The token's account fueled speculation about its integration into the legal system. Initially launched in February, the CAR token peaked at $884.31 million but later fell 98% from its high due to waning interest and lack of clear plans. Similar country-backed meme coins, like those associated with Donald Trump and Argentina's Javier Milei, have also experienced significant declines. Despite these trends, the Central African Republic aims to establish a lasting presence in the meme coin market with potential legal backing.
