The President of the Central African Republic of Faustin-Archanga Tuader launches Meme Moneta in an attempt to raise the country's profile, which is one of the poorest in the world.
Meme-Coins are used to build popularity for a viral trend of the Internet or movement and fans are inspired to collect and give them value, but they are extremely variable investments.
Touadéra announced the launch, known as $ CAR, in its X -weekend account and said it was “Success” on Monday. But the value of the coin had a significant drop in prices up to 90%, according to specialized websites.
In 2022, Car became the second country in the world after El Salvador would accept Bitcoin as cryptocurrency as a legal payment.
This initiative – launched under the name Sango – seems to have not been as successful as planned, and its website is no longer working.
It is considered an easier way to attract investors in the country's yield and other industries using Bitcoin. The country has rich mineral deposits, including gold and diamonds.
Foreign investors can also be given citizenship for cryptocurrency worth $ 60,000, although the plan was later set as an unconstitutional by the country's best court.
Touadéra described this week's launch of Meme-Coin as an “experiment” of something that “can unite people, to support national development and put (the country) on the world stage in a unique way.”
But some have expressed fears that it may be fraud.
On Monday, Tuader thanked those who believed in his vision.
He shared a video of a high school, which he said he was getting worse, saying that the meme cocket would help support his “recovery and furnishings” and give the “students a chance for a better future.”
Despite its potential, CAR remains one of the most overwhelming countries – a situation complicated by a civil war that has devastated much of the country.
Mem -monets have often been criticized for their speculative nature, in which consumers create or buy them in the hope that their value will rise and make money – but many are ultimately losing money from them.
Just before his introduction last month, US President Donald Trump launched his own meme-core, whose value quickly rises and which, according to reports, has raised billions of dollars for him. The New York Times reported that it is now worth a quarter of its highest value.