$CAR MEMECOIN surged to $530 million, but Deepfake’s fear and insider sales sparked huge concerns. Despite the risks, the traders were a huge success, bringing one person to $12 million to $5k in just three hours.
The car, which is the Central African Republic, sent shockwaves into the territory of the code after dropping its own Memecoin $car. On February 9th, the token was announced through the president Faustin-Archange Touadéra’s Official X-account as an “experiment” designed to unite the nation and boost economic development. Built on the Pump.Fun platform via Solana, Memecoin quickly gained traction. Within just a few hours, it surged to a $530 million market capitalization that was crazy for space. However, as soon as the hype began, skepticism and controversy began to spread.
Crypto analysts and traders have begun to raise alarms about the legitimacy of the project. Skynet Insights, one of the most well-known blockchain research groups, is caveat That $car could be a scam, claiming that insiders control 80% of the supply and have already won over $15 million. Others pointed out suspicious details, including the use of Namecheap, a budget domain provider to register the official website. They found themselves wary of the registration occurring just three days before the launch.
This raised serious questions about whether tokens were indeed a government-supported initiative.
Deepfake claims and suspicious timing
It was surrounded by a new level of controversy as AI detection tools marked the president video It was announced that it is likely a fake. Deepware, a tool for Deepfake verification, analyzed the video, discovered 82% of operational possibilities, and raised questions about the president’s support for the project. Things got even more intense when X unexpectedly stopped the official account @carmeme_news, which promoted Memecoin, further promoting speculation about the legitimacy of the token.
Even if all these rumors have started the building, President Toudella defended support for the project with assurance that an account will come to get things back in order, but he still shows strong intentions Cryptocurrency. For example, he remembers his supporters the moment that made history that led him to become the second world leader, following El Salvador President Naive Bukere to support Bitcoin as a national bid. I’ll let you do it. This underscores his role in moving forward with adoption of digital currency. He may not be embarrassed to support digital currency yet.
When skepticism is built, some investors pocket huge profits. For example, investors traded $25 Solloth $5k to $12 million in just three hours, showing astounding 2,450 returns. Lookonchain Through on-chain analysis. Memecoins continues to generate volatile speculations as traders gather profits, facing extreme risk.
It’s not the first time a car has tried crypto. In 2022, the country followed the example of El Salvador to make Bitcoin a fiat currency. They then launched Sango Coin to tokenize natural resources.
However, the government later turned around Bitcoin The 2023 statutory bid position raises questions about its long-term commitment to digital assets. Now, as deepfake suspicions, insider sales and regulatory uncertainty surround the $car, the global crypto community wonders if it’s a revolutionary financial experiment or an elaborate scheme.