The leader of one of Africa’s poorest nations has mimicked Donald Trump with the launch of a so-called memecoin, only to see its value immediately crash over concerns the project was an elaborate fake.

The President of the Central African Republic took it one step further than Donald Trump, by creating a Pump.fun token for his nation.

Central African Republic has launched a meme coin in what President Faustin-Archange Touadera said was a bid to raise the profile of one of the world's poorest countries. Touadera announced the move on X late on Sunday,

The Central African Republic, a poverty-stricken and perennially unstable country despite its vast mineral wealth, has launched a memecoin called $CAR, which had a tumultuous debut, according to experts.

“Cos,” founder of the blockchain security firm SlowMist, discovered a suspicious link listed on the trading platform GMGNAI. Instead of directing users to an official site, the link led to a Linktree page that included a supposed livestream hosted on the video streaming platform Kick.

Bitcoin was abolished as an official means of payment in the African country. Now a meme coin is to "support national development".