Memecoin Misfire Comes Back to Haunt MMA Star After Public Jab at Rival
Former UFC champion Conor McGregor has reignited his rivalry with Khabib Nurmagomedov, this time shifting the battle from the octagon to the world of digital assets. McGregor criticized Khabib’s recent NFT release on Telegram, accusing him of exploiting Dagestani cultural symbols — but the accusation backfired quickly.
NFT Feud Sparks Online Clash
Khabib’s NFT drop featured digital “papakhas,” the traditional Dagestani headwear he often wore during his fighting career. McGregor, in a now-deleted post on X, claimed there was “no way good guy Khabib used his late father’s name and Dagestan’s culture to scam his fans.”
The comment stirred immediate controversy, not only because of their long-standing rivalry, but also due to McGregor’s own history in the crypto space — a history quickly highlighted by blockchain investigator ZachXBT.
Spotlight on McGregor’s Failed Memecoin
Shortly after McGregor’s post, ZachXBT responded by drawing attention to McGregor’s REAL token, a celebrity memecoin launched in April. The blockchain analyst mirrored McGregor’s criticism with a pointed rhetorical question:
“There is just no way good guy McGregor used his reputation, as well as Irish culture, to scam his fans and fire sell a bunch of digital tokens online… and then delete all the posts after they were sold?”
McGregor’s REAL token was introduced through a sealed-bid auction format meant to block bots and price snipers. The project promised staking rewards but ultimately attracted only 39% of its intended raise, falling short of its launch goal.
McGregor later said all funds were refunded after the failed debut, attributing the collapse to broader market conditions and a memecoin downturn.
Memecoin Market in Decline: From 2024 Hype to 2025 Washout
Memecoins dominated investor attention in 2024, producing some of the highest returns across the crypto sector. However, by 2025 the momentum had evaporated. Several celebrity-backed launches crashed within days or were accused of misleading investors — including tokens linked to prominent political figures.
Market data shows memecoins have fallen sharply since December 2024. As of Friday, the sector’s market cap dropped to $39.4 billion, marking the lowest level of 2025 and wiping out $5 billion in a single day.
While McGregor and Khabib’s rivalry has played out in many arenas, the latest exchange underscores how volatile — and highly scrutinized — the digital asset space has become. With the NFT and memecoin segments still struggling to recover, celebrity-driven projects face increasing skepticism and far less investor enthusiasm than in the previous cycle.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.