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On February 11th, COINOTAG News reported significant turbulence in the cryptocurrency market following the announcement of the CAR token by the President of the Central African Republic. According to surveillance from lmk.fun (previously known as Scopescan), the token experienced a staggering 96% decline, effectively rendering its value to near zero within 24 hours. A notable market participant, who previously leveraged their position in TRUMP to achieve a profit of $2.9 million, acquired 3.95 million CAR tokens at an average price of $0.49. However, this investment has led to a dramatic depreciation of approximately 92%, translating to an unrealized loss of around $1.8 million. Such volatility underscores the importance of rigorous risk assessment in the volatile world of cryptocurrencies.
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