The Central African Republic (CAR) has launched a meme coin, $CAR, as part of an innovative effort to raise the

The Central African Republic, a poverty-stricken and perennially unstable country despite its vast mineral wealth, has launched a memecoin called $CAR, which had a tumultuous debut, according to experts.

CAR President Faustin-Archange Touadéra's X account posted about the launch of the country's $CAR meme coin, but even with a $500 million market cap, there were "red flags" raised about the token's launch.