Central African Republic’s Meme Coin Madness: $12M Trader Triumphs!

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In a most audacious display of modern folly, the Central African Republic has unfurled its very own meme coin, aptly named CAR, upon the illustrious Solana blockchain. Ah, the sweet scent of meme coin mania wafts through the air, as if the very essence of absurdity has taken form! This delightful venture follows the grand spectacle of the TRUMP meme coin, which, like a peacock strutting its feathers, has captured the attention of the masses. Behold:

TRUMP: $15.98
24h volatility: 6.2%
Market cap: $3.20 B
Vol. 24h: $1.51 B

And let us not forget the equally charming MELANIA meme coin, which has graced us with its presence:

MELANIA: $1.47
24h volatility: 1.7%
Market cap: $221.13 M
Vol. 24h: $47.67 M

It appears that even the most esteemed global leaders are eager to ride this whimsical wave of digital currency. Speaking of esteemed leaders, President Faustin-Archange Touadéra, in a moment of sheer brilliance, proclaimed:

“Today, we are launching $CAR – an experiment designed to show how something as simple as a meme can unite people, support national development, and put the Central African Republic on the world stage in a unique way.”

Ah, the transformative power of cryptocurrency! One can only imagine the grand soirées where such ideas are birthed.

Trader Minted $12 Million on Solana-based CAR Meme Coin Launch

In a twist worthy of a Shakespearean comedy, a trader, with the audacity of a jester, turned a mere $500K into a staggering $12 million in less time than it takes to brew a cup of tea! Blockchain analytics platform Lookonchain reported that this savvy trader sprang into action posthaste, as President Touadéra shared the contract address for the newly minted $CAR token. With a mere 25 $SOL (approximately $5,000), our intrepid investor snatched up 46.57 million $CAR tokens in the blink of an eye.

In a dazzling display of financial acrobatics, they sold 22.65 million $CAR for 8,395 $SOL (worth $1.67 million), while retaining a princely sum of 23.92 million $CAR tokens valued at $10.5 million. Such swiftness resulted in an overall return of 2,450x, with profits exceeding $12 million. Bravo! 🎉

Yet, alas, not all traders basked in the glow of fortune, as the CAR price plummeted faster than a lead balloon.

CAR Price Pump and Dump, and Tokenomics

The CAR meme coin has become a veritable rollercoaster of emotions, experiencing a dramatic pump and dump, crashing more than 69% from its peak. As of the latest CoinGecko data, the CAR price languishes at $0.2371, with its market cap plummeting from a dizzying $600 million to a mere $237 million. The official CAR meme coin website, in a fit of transparency, outlines the tokenomics of this grand venture:

  • 25% allocated to creators for the country’s development.
  • 20.7% designated for the liquidity pool.
  • 10% set aside for charitable initiatives.
  • 9.3% intended for public distribution.

However, dear reader, a cloud of suspicion looms over this merry affair, as a significant portion of the meme coin has been hoarded in just two wallets. Data from Solscan reveals that approximately 33% of the total supply resides in one wallet, while 25% languishes in another. The liquidity pool’s 20.7% allocation remains conspicuously absent, raising eyebrows and questions about the transparency of this whimsical tokenomics plan. Oh, the drama! 🎭

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2025-02-10 13:05