Central African Republic’s CAR Meme Coin Sparks Frenzy as Trader Nets $12M in Hours

The Central African Republic (CAR) has stepped into the meme coin craze, launching its own digital asset on the Solana blockchain. The move, hailed by President Faustin-Archange Touadéra as a unique initiative to unite people and support national development, saw a whirlwind of activity.

One trader took full advantage, turning just $5,000 into a staggering $12 million in mere hours. But the hype was short-lived. The token’s price has since plummeted by 69%, leaving late investors nursing heavy losses.

From $5,000 to $12 Million—A Trader’s Lightning-Fast Move

Timing was everything. Minutes after the CAR government made its announcement, a well-prepared trader jumped in.

Using only 25 SOL—roughly $5,000—the investor scooped up 46.57 million CAR tokens in a single second, according to blockchain analytics firm Lookonchain. The bet paid off handsomely.

• They quickly offloaded 22.65 million CAR tokens for 8,395 SOL, or about $1.67 million.
• The remaining 23.92 million CAR tokens held a value of $10.5 million at the peak.
• The total profit? A jaw-dropping 2,450x return in under three hours.

It was a dream trade, but the dream didn’t last for everyone.

A Classic Pump-and-Dump? CAR Token Crashes 69%

For those who got in early, CAR was a golden ticket. But for latecomers, it turned into a nightmare.

CAR’s price skyrocketed following the announcement but came crashing down just as fast. At its peak, the token’s market cap reached $600 million. Now, it’s hovering around $237 million.

CoinGecko data shows CAR has already lost 69% of its value. Investors who rushed in late are now watching their holdings shrink.

Questions Over Token Distribution and Transparency

The official CAR meme coin website outlines its tokenomics, but some details have raised concerns.

Here’s how the project claims to distribute its tokens:

But a closer look at the blockchain paints a different picture.

• One wallet holds 33% of the total supply—a massive concentration.
• Another wallet controls 25% of all CAR tokens.
• Two additional wallets account for 9.81% and 8.39%, respectively.

That means nearly 76% of the token supply is controlled by just four wallets, raising serious questions about decentralization.

Another red flag? The 20.7% liquidity pool allocation hasn’t been deposited yet, leaving investors wondering if the tokenomics plan is really being followed.

The Bigger Picture: Meme Coins and Political Influence

The CAR’s move into the meme coin space follows a growing trend of political figures embracing cryptocurrency.

Recent months have seen the launch of TRUMP and MELANIA meme coins, signaling that even world leaders are getting in on the action. CAR’s President Touadéra has long been a crypto enthusiast—he was the second global leader to make Bitcoin legal tender.

But while the launch of CAR’s meme coin makes headlines, the fallout is already in motion. As traders scramble to decide their next moves, one thing is clear: meme coins may be fun, but they’re still a high-stakes gamble.