The Central African Republic (CAR) has launched a new meme coin, referred to as $CAR, in an effort to enhance the nation's profile and support national development. Officially introduced by President Faustin-Archange Touadéra on February 9, 2025, the coin initially achieved a market capitalization of $900 million shortly after its launch on February 10. However, the value of the meme coin plummeted by 95% within days, dropping to approximately $31.5 million by February 12. This initiative follows previous attempts by the CAR to engage with cryptocurrency, including the adoption of Bitcoin as legal tender and the introduction of Sango Coin, both of which faced challenges. Despite the ambitious goals set forth by the government, concerns regarding the lack of infrastructure and the viability of such projects have been raised by economists and officials alike.