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Token CAR surged before the Central African Republic announced land tokenization.
The national meme coin $CAR of the Central African Republic has risen to the sky before President Faustin-Archange Touadéra announced that more than 1,700 hectares of land will be tokenized through the Solana blockchain starting in June. Citizens can access land use rights online using $CAR.
The land located near Bossongo village, 45 km from the capital Bangui, can be used for mineral exploitation according to the new law and the current mining legislation. The president called this a "new era of transparency and accessibility."
The price of $CAR has risen more than 127% in the week, reaching 0.05 USD and a market capitalization of 56.6 million USD. The coin once peaked at 0.7 USD after its launch in February 2025 but then fell sharply.
This move comes as the Sango Coin project is being frozen. The president is still actively promoting $CAR, having promised to invite 100 top holders to meet in Dubai.