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The Central African Republic’s official meme coin, CAR, surged 20% after President Touadéra hinted at a future law involving the token. The token’s market cap now stands at $15.8 million, though it remains 98% below its all-time high. This move follows a trend of national leaders endorsing meme coins, with mixed results.
- President Touadéra hinted at a legal decree involving CAR, sparking a 20% price surge.
- CAR's market cap peaked at $884 million post-launch but crashed amid fading hype.
- Leader-backed meme coins (TRUMP, LIBRA, CAR) have shown volatility and steep declines.
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