UFC star Conor McGregor criticized former rival Khabib Nurmagomedov for his non-fungible token (NFT) drop on Telegram, which featured digital “papakhas” — a conventional hat worn in Nurmagomedov’s native nation of Dagestan.
“There may be simply no manner good man Khabib used his late father’s identify, in addition to Dagestan’s tradition, to rip-off his followers and fireplace promote a bunch of digital NFTs on-line,” McGregor wrote in a now-deleted X put up.
Onchain sleuth ZachXBT responded to McGregor, declaring that McGregor tried to launch his personal celeb memecoin in April known as REAL. ZachXBT stated:
“There may be simply no manner good man McGregor used his fame, in addition to Irish tradition, to rip-off his followers and fireplace promote a bunch of digital tokens on-line after which delete all the posts after they had been bought, leaving his followers robbed of their cash?”
McGregor’s REAL token was provided to potential consumers in a sealed-bid public sale to stop snipers and automatic buying and selling bots from manipulating costs at launch. It featured staking rewards for holders, but it surely solely managed to lift 39% of its goal launch purpose.
The funds that had been raised had been refunded to individuals following the failed launch, in accordance with McGregor. The failure of the token was because of a number of elements, together with a broad downturn within the crypto market on the time and a memecoin bear market.
Associated: NFT and memecoin markets recuperate after month-long crypto hunch
Memecoins have fallen from grace, however will they return?
Memecoins had been one of many hottest narratives and best-performing sectors within the crypto market in 2024. Nevertheless, the parabolic run loved by memecoins got here to a screeching halt in 2025.
The decline of memecoins adopted a number of high-profile launches that plummeted in worth nearly instantly after launch or had been characterised as a rug pull, together with initiatives endorsed by US President Donald Trump and Argentina’s President Javier Milei.
Memecoins fell to a market cap of $39.4 billion on Friday, reaching the bottom degree on report in 2025 and shedding as much as $5 billion in someday, in accordance with CoinMarketCap.
Journal: Memecoins: Betrayal of crypto’s beliefs… or its true goal?

