President Touadéra dismissed hacking rumors, reigniting interest in CAR meme coin as listings and partnerships aim to restore investor confidence.
By Temitope Olatunji
Edited by Marco T. Lanz
Updated
3 mins read
The president of the Central African Republic (CAR), Faustin-Archange Touadéra, has dismissed rumors that his account was hacked or that he was the target of a deepfake. He reaffirmed his commitment to innovation, blockchain technology, and the CAR meme coin project, emphasizing that the initiative aligns with the country’s development goals.
“My account was not hacked, I was not the victim of any deepfake, and I reaffirm my commitment to innovation, blockchain, and the development of CARMemecoinNews in the Central African Republic,” He said.
His statement came few days after the launch of the CAR meme coin, which was introduced to support national growth while positioning CAR on the global stage in a unique way. The president’s latest post was welcomed by many users, who see it as putting an end to speculation surrounding the token. However, some believe the clarification came too late.
Following its launch, the CAR token experienced a rapid surge, reaching a market cap of $900 million after starting at just $80,000 within four hours. Trading volume also exceeded $1 billion, placing it among the highest decentralized exchange (DEX) volumes recorded in such a short period.
However, due to uncertainty surrounding the token and rumors of the president’s account being hacked, the CAR meme coin depreciated, dropping below $40 million. Touadéra’s recent post has reignited interest in the token, as it has spiked by more than 20% in the last 24 hours. The market capitalization has also increased by over 18% within the same timeframe.
The CAR token is already listed on major exchanges, including MEXC, BingX, BitMart, LBank, and XT.com. A post from the project’s official X page revealed that additional exchange listings are planned, which could further enhance the token’s visibility and liquidity. The team behind the project is also focused on expanding market activities and securing partnerships to strengthen the token.
“We’re expanding our listings and securing major partnerships to strengthen our market presence. A global marketing push will drive greater visibility and engagement. We’re also forging real-world collaborations with large institutions to enhance credibility and impact. Additionally, expect regular updates on key country development initiatives as we continue to drive growth and innovation,” They stated.
According to CoinGecko data, nearly 27,000 people are holding the CAR token. If the token secures additional exchange listings, it could further boost investor confidence and drive its price upward. Recently, Crypto.com added CAR alongside three other Solana-based tokens to its Onchain Wallet.
With strong backing from President Touadéra and his reaffirmation that the token has his support, the CAR token could be on the path to recovery. Touadéra has consistently been a pro-crypto leader, previously describing Bitcoin as universal money.
Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
