Central African republic Tokenizes Land with Solana-Based Meme Coin
President Faustin-Archange Touadéra of the Central African Republic has unveiled plans to tokenize over 1,700 hectares of land using the Solana-based meme coin, CAR.This groundbreaking move aims to attract global investors by June 2025.
On May 30, Touadéra shared on X that he signed a decree to tokenize the land. The initiative will make the land accessible to global traders via the Solana blockchain. The land, located near Bosongo village, will be available for purchase through the meme coin, dubbed the “national meme coin.” The project aligns with the country’s mining laws and 2023 tokenization regulations.
The land, situated 45 kilometers west of Bangui, could be a game-changer. Traders can buy the land by acquiring CAR tokens. The project is part of the nation’s push to modernize its economy using blockchain technology. The tokenized plots are expected to boost the country’s economic prospects.
Though, the meme coin has faced skepticism. Despite this, the declaration sparked a 20% price surge for CAR tokens. The coin’s daily trading volume also surged by 31.9%. The token’s value has soared 182% in a week and 216% in a month. The token’s price climbed 10.7%, trading at $0.05, with a market cap of $53 million. Initially launched in February, CAR tokens have seen massive gains. The token’s value peaked at $0.775 on launch day but quickly dropped. The project’s legitimacy was questioned due to AI-generated content and website suspensions. The CAR coin’s market cap briefly hit $884 million but plummeted shortly after.The project’s success hinges on overcoming these hurdles.
Top CAR holders were invited to a Dubai meeting,mirroring donald Trump’s TRUMP coin event. The CAR coin’s website faced suspensions, raising doubts about its authenticity. The website was flagged as an “abusive service,” casting a shadow over its credibility. The website’s budget-pleasant domain raised eyebrows among crypto enthusiasts.
Tokenization could revolutionize land ownership. Yet, deepfake videos and website issues fueled doubts. The president aims to unite people and boost national development.The CAR coin’s price chart shows volatility, reflecting market uncertainty. the Solana-based token has seen major gains in the past few weeks, rising by more then 182% in the past week and more than 216% in the past month.Price chart for the meme coin CAR in the past 24 hours, May 30, 2025 | Source: CoinGecko The token is currently up by 10.7% and is trading hands at $0.05. It has accumulated a market cap of $53 million as its launch last February.The token’s market cap briefly soared past $884 million, before crashing not long after the launch. Last month, the top 100 holders of CAR were invited to Dubai to meet with Central African Republic President Touadéra, in a move similar to Donald Trump’s invite-only dinner for the top 220 holders of the official TRUMP (TRUMP) meme coin on May 22. Controversy surrounding Central African Republic’s meme coin on Feb
