CAR Meme Coin Crashed: Losses Amounted to 96% in 24 Hours
Date: 2025-02-12 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
The project’s market cap has now fallen from $893.4 million to $31 million, sparking a wave of criticism and suspicions about the token’s legitimacy.
The launch of CAR was accompanied by a promotional video published on the X-account of President Faustin-Archange Touadéra. In the video, the meme coin was presented as an “experiment” that could contribute to the country’s economic development and strengthen its position on the international stage.
However, the community reacted skeptically: many users expressed doubts about the authenticity of the initiative, suggesting that the president’s account could have been compromised. The suspicions were reinforced by the fact that several AI detectors classified the video as a potential fake.
Earlier in February, Binance analysts noted an increase in interest in meme coins and AI agents, explaining this trend by increased speculative activity in the market.
