The Central African Republic has just launched a new meme coin, known as $CAR to boost the country’s profile, which is one of the poorest in the world. In a post on social media, CAR’s President said the meme coin was an experiment designed to support national development. However, post its launch, the coin’s value plunged nearly 90% raising fears that it could be a scam. A meme coin is a type of cryptocurrency that is inspired by internet memes and trends. It is usually highly volatile and a purely speculative asset. CAR has previously brought in the Sango coin. But it was not successful. Will this experimental project help the country come out of poverty or will it be a failure? Watch now to know more.
