Central African Republic’s President Allegedly Launches Meme Coin—Hacked or Real?

In Brief:

CAR President Faustin-Archange Touadéra announced the launch of a MEME coin named "CAR" on X.

Uncertainty remains over whether his account was hacked or if the launch is legitimate.

CAR token surged to $0.47 before dropping to $0.27, now at a $270M market cap.

‍

The crypto world was shocked after the official X account of Central African Republic President Faustin-Archange Touadéra posted an announcement about a new MEME coin called "CAR". While the contract address was shared, doubts remain over whether the announcement is authentic or if his account was compromised.

Despite the uncertainty, the CAR token briefly soared to $0.47, before pulling back to $0.27, with a market cap of $270 million. Given the high volatility of meme coins, investors are urged to exercise caution until further confirmation.

‍