In a daring decision aimed at revitalizing its economy in difficulty, the Central African Republic (car) has launched a new crypto, nicknamed “even because”.
This initiativeLed by President Faustin-Archange Touadéra, a former math teacher, seeks to attract investments essential to the nation, which has been confronted with “years of negligence of the international community”.
Bitcoin in mecoins
The car, a country without coastline with a population of around 5 million inhabitants, made the headlines in 2022 when it became the second nation in the world, after El Salvador, to adopt Bitcoin as call for tenders.
Following this important stage, the government introduced Sango Coin, a crypto that offered investors of citizenship, land ownership and access to the country’s natural resources. However, decades of conflict have left considerable reserves of the car gold and “largely unexploited” diamonds.
The launch of Car Even arrives at a time when the global crypto landscape, especially the mecoins, evolves quickly. These digital assets often lack intrinsic value, but they draw considerable attention and investments.
President Touadéra expressed optimism about the new cryptocurrency, declaring that she had collected “thousands of supporters” both in the car and internationally. According to his recent post on X (formerly Twitter), the same car is the civil servant even of the nation and is built on the Solana blockchain.
The car crypto falls on almost 90%
Despite the initial enthusiasm, the same car has experienced significant volatility, trading at $ 0.03 on the Jupiter crypto trading platform Only a few days after its launch, having dropped almost 90% in value. However, Touadéra hopes the potential of the meme of car to generate a positive change in the country.
The President underlined the government’s ambition to take advantage of Blockchain technology to promote long -term growth in various sectors, including education, infrastructure and financial inclusion. “We have already started to explore new opportunities to use Memecoin to promote a real change,” he noted.
The proliferation of mecoins is not limited to the car. In particular, former American president Donald Trump and his wife Melania launched their own same this year, also built on the Solana blockchain.
Trump’s official same, has experienced a peak assessment of more than $ 14 billion, while Melania reached $ 2.1 billion before the two suffered a significant drop in value.
As illustrated in the daily graph above, the Trump Memecoin is currently negotiated at $ 15.27, indicating a significant drop of 79% compared to its peak of $ 73.43, which was quickly reached on January 19.
In addition, its volume of trading, based on Coingecko dataHas considerably decreased since the first days of its official launch, showing nearly $ 800 million in volume in the last 24 hours, indicating a 20%drop.
Dall-e star image, tradingView.com graphic