The President of the Central African Republic launched a national meme coin, which saw its market cap skyrocket to nearly $900 million before crashing. The announcement came via social media, describing the coin as an experiment to unite people and promote national development. While initial skepticism surrounded the post's legitimacy, a follow-up video in French reassured some supporters and drove the token's value up by over 1,200%. However, the token later plummeted by 87% within hours. Subsequent developments, including additional video endorsements, attempted to revive interest, but overall, the meme coin faced significant volatility, with its value dropping to $132 million. The President emphasized the coin's potential for charitable initiatives and economic impact, vowing future updates on its progress.

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