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Mixed-martial arts (MMA) champion Conor McGregor launched a memecoin called “REAL” on April 5, which will reportedly feature staking rewards and voting rights for tokenholders.
Spokespeople for the project told Cointelegraph that the token was launched through a sealed-bid auction to eliminate snipers and bots hijacking the token launch. The project was developed in collaboration with the Real World Gaming decentralized autonomous organization (DAO).
REAL token initial allocation breakdown. Source: Real World Gaming DAO
The auction will take place from April 5-6. In a statement shared with Cointelegraph, McGregor touted the launch as a fair memecoin offering:
"This is about transparency — we are showing the world how it is done with integrity,” McGregor continued.
The memecoin narrative peaked following the launch of the TRUMP memecoin by US President Donald Trump. However, savvy traders continue hunting memecoins, keeping the market alive.
Related: Ghibli memecoins surge as internet flooded with Studio Ghibli-style AI images
Meme “supercycle” dead but savvy traders still in the game
Nansen research analyst Nicolai Sondergaard recently told Cointelegraph’s Chainreaction that "smart money" traders are still scouring for memecoin trades but are just as likely to rapidly exit those positions for quick gains.
Sondergaard attributed the recent activity in the memecoin market to savvy traders making a "fun play" while waiting for the macroeconomic outlook to settle and for markets to shake out.
US President Donald Trump's trade tariffs and the counter-tariff responses from trading partners create a difficult environment for risk-on assets as investors flee riskier asset classes for safe havens.
Following the sweeping tariff order, US stocks shed $5 trillion in value. The catastrophic stock market loss within a single day totaled more than the total market capitalization of crypto.
The price of Bitcoin remains firm and rangebound compared to the total crypto market cap shown in blue. Source: TradingView
As fears of a prolonged global trade war spread and market analysts warn of a potential recession, the price of Bitcoin continues to remain anchored above the $80,000 level.
Bitcoin's resilience during the current market downturn suggests that more investors are beginning to see the digital asset as a store of value as opposed to a risk-on asset.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Magazine: Memecoins: Betrayal of crypto’s ideals… or its true purpose?
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