President Faustin-Archange Touadéra of the Central African Republic has hinted at new legislative changes related to the country’s meme coin, the CAR token, igniting a 20% surge in its value and raising its market cap to $15.8 million. The president's comments suggested that the CAR token could be incorporated into future laws, evidenced by his social media post featuring the blurred document labeled 'decret.' Previously, the CAR token had reached a peak market cap of $884.31 million shortly after its launch but eventually plummeted as plans for its utilization were unclear. The Central African Republic's attempts at cryptocurrency, particularly its meme coin, follow a trend seen globally where political endorsements have launched various meme coins into market speculation. However, despite the recent price increase, the CAR token remains down by 98% from its all-time high, reflecting the volatile nature of meme currencies. This move by CAR aligns with broader trends seen in other nations where political figures have attempted to utilize cryptocurrency for economic purposes, albeit often with disappointing outcomes.

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