The recently launched Central African Republic (CAR) memecoin has experienced a staggering collapse, plummeting by 97% in value within just two days of its debut. The launch, which initially sparked curiosity, faced substantial skepticism from investors and analysts alike.

Despite this, the President of the Central African Republic has actively continued to promote the token, raising questions about the sustainability and credibility of such initiatives. This dramatic downturn serves as a cautionary tale for prospective investors, highlighting the risks associated with investing in memecoins and new crypto projects.

As this situation develops, observers will closely monitor the future of the CAR memecoin and its impact on broader trends within the crypto market.