- McGregor criticized Khabib’s NFT drop, sparking backlash from ZachXBT.
- ZachXBT reminded the public of McGregor’s failed REAL memecoin launch.
- The broader memecoin market continues collapsing to new yearly lows.
Conor McGregor stirred up another round of headlines after taking a shot at longtime rival Khabib Nurmagomedov over his latest NFT drop on Telegram. The collection featured digital versions of the papakha, the traditional Dagestani hat Khabib famously wore throughout his UFC career. McGregor accused him of exploiting his late father’s name and cultural symbols to “scam his fans,” a post he later deleted. The jab quickly reignited tensions between the two fighters, but this time the pushback didn’t come from Khabib.
ZachXBT Fires Back With Receipts
Blockchain investigator ZachXBT stepped in almost immediately, reminding McGregor that he had launched his own celebrity memecoin, REAL, earlier this year. The token never made it off the ground and managed to raise only around 39% of its target during a sealed-bid auction that was meant to prevent bots from sniping the launch. ZachXBT pointed out the irony, noting that McGregor himself wiped posts and abandoned the project once things went sideways. According to McGregor, funds were refunded, but sentiment around the launch still left a sour taste.
Celebrity Memecoins Keep Crashing in 2025
What happened to McGregor’s REAL token wasn’t exactly unique. The memecoin market has been on a steep decline throughout 2025, dropping from one of the hottest narratives of 2024 to one of the weakest sectors this year. Several celebrity-backed launches collapsed almost immediately, including tokens tied to Donald Trump and Argentina’s Javier Milei. Rug pulls, poor execution, and a brutal memecoin bear market drove overall sector valuation down to $39.4 billion this week, the lowest of the year.
A Market Turning Away From Hype
The shift away from memecoins reflects a deeper change in the crypto landscape. After months of market-wide drawdowns and failed launches, traders have grown more cautious around hype-driven assets. McGregor’s failed token, paired with his jab at Khabib’s NFT launch, became the latest example of how quickly these celebrity projects can backfire. For now, the space seems stuck between fading enthusiasm and lingering distrust, and it’s unclear whether memecoins will ever reclaim their explosive momentum from last cycle.
