Crypto Trader Retires With $12M After Central African Republican President’s Meme Coin

The launch of the Central African Republican President's meme coin led to a crypto trader earning $12M, but controversy followed up soon.
By Pooja Khardia
Published: 10 Feb, 2025 | 08:23:48 AM GMT
Crypto Trader Retires With $12M After Central African Republican President's Meme Coin

Highlights

  • A crypto trader turned $5k into $12M after investing in the Central African Republican President's meme coin.
  • The token quickly gained traction in the market, but the allegation of scam followed up soon.
  • The CAR price fluctuates among skepticism and investors with doubts over its credibility.

With the growing adoption, more and more higher profiles and world leaders have begun adopting the crypto industry. After Donald Trump’s meme coin launch, the Central African Republican President opted for the same, launching the CAR meme coin on February 10, 2025. Interestingly, when the rest of the community was contemplating this news, a crypto trader took the opportunity, earning $12 million.

With such a staggering amount, the trader could easily retire, but that’s a topic of discussion; first, let’s discuss how this person earned $12 million.

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Crypto Trader Turned $5K Into $12M Profits

According to the Lookonchain post, a crypto trader went for the bet within seconds of the Central African Republic President Faustin-Archange Touadéra’s meme coin contract release. The trader invested $5,000, equivalent to 25SOL, and bought 46.57M CAR.

Out of these, the trader sold 22.65 million tokens for 8,395 SOL( $1.67 million), holding the rest 23.92M in hopes of further gains. At the time of sale, these Solana meme coins were worth $10.5M, bringing the total to $12M. However, as the price fluctuates, the profits may vary.

Crypto trader $12M profit

With a simple $5k investment, the crypto trader has gained a 2,450x return. However, amid these high returns, the community highlights odd details of the launch, raising fears of scams.

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CAR Token Controversy: AI Flagged & Scam Allegations

The CAR token launch was sudden, and the Central African Republican government gave no hints. The current president, Faustin-Archange Touadéra, made the official announcement on his X page on February 9, simultaneously building enthusiasm and skepticism.

Many scams have occurred this way, where scammers got hold of the influential personality’s X account and promoted or claimed the new launch. The prime and the most recent example is the Breaking Bad star X account hack,

Central African Republican President's Meme Coin

The suspicion grew when Seferbekov, a deepfake AI tool identifier, claimed that 82% of the personality in President Touadéra’s video is AI-generated. This video was shared minutes after the token launch news to share tokenomics and other data. Moreover, Yokai Ryujin, a crypto trader, revealed that the CAR’s domain was bought just three days before the launch.

Yokai Ryujin

The analyst kept revealing such unusual odds, especially around the launch’s timing, which is 10:25 pm UTC and midnight in the country’s local time. Moreover, the announcement was in English rather than the country’s official language, French.

The biggest shocker was the suspension of the token’s official X account, which raised suspicions of hacking. Although the Central African Republican President acknowledged the X account suspension news situation, the odd events were hard to ignore.

Faustin Archange

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Should You Buy It?

Newly launched meme coins possess high volatility, which requires high caution. However, amid the rising cases of scams and hacked crypto promotions, concerns persist around the CAR token. Additionally, the CAR price is at risk of higher manipulation due to scam allegations and investors’ fearful sentiments.

As a result, investors must research deeply and cautiously decide whether to buy this token. More importantly, people should not be FOMO about the $12M this crypto trader earned, as this is all about timing and trading skills.

Notably, the Central African Republican President launching a meme Coin might give this category more credibility and restore its demand. This is important as the meme coin market cap has declined by $44 billion recently.

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Frequently Asked Questions (FAQs)

1. How did this crypto trader earn $12M?

The crypto trader invested in the newly launched Solana meme coin, CAR, which peaked amid the hype and investor demand.

2. What's the CAR meme coin controversy?

The crypto community seems skeptical of the CAR meme coin launch, as the token's official X account was suspended, the domain is new, and so on.

3. Is the Central African Republican President's meme coin a scam?

Specific allegations from crypto traders make it possible, but these lack specific proof, so investors must wait for further clarification.
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section. Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights. Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry. When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.
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