The Uganda-based blockchain and technology education institution, Mitroplus Labs Africa, has launched an “educational” meme token called Afro as part of its expansion across Africa. Built on the Tron network’s Sunpump memes, Afro is represented by an African girl.

Ivaibi Festo, the founder of Mitroplus Labs Africa, noted that Afro’s character is a departure from the pets, reptiles, and amphibians often depicted in many meme tokens. According to Festo, Afro was already among the top 15 memes on Sunpump as of Sept. 24, likely due to its unique African identity.

Commenting on Mitroplus Labs’ decision to launch the meme, Festo said:

If we can successfully develop a meme, we can build any other utility token to success. This is an educational meme. We are documenting and educating our community on meme price development, from a market capitalization of $40,000 to our envisioned goal of $7 billion. Many communities are joining us on this journey. This is no longer just a meme; it’s a movement.

The Microplus Labs founder added that, unlike other meme token projects with little to no connection to their communities, the Afro token will be integrated with educational seminars and conferences across Africa. This, according to Festo helps to increase visibility and trust for the token.

“If you are not planning to rug pool a project, then it should be completely OK to physically interact with its community,” Festo added.

At its peak, the Afro token’s market capitalization reportedly reached $12 million before experiencing a gradual decline. Festo, a technical analysis expert, described the meme’s apparent pullback as “healthy” retracements and consolidations, which should create “attractive entry points for new communities.”

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