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This article investigates the effectiveness of celebrity-endorsed tokens in onboarding new users into the crypto ecosystem. Using TRUMP and MELANIA coins launched in January 2025 and endorsed by Donald Trump and Melania Trump as case studies, the analysis reveals that while these tokens attracted significant initial interest, they failed to retain users long-term. Key findings include:
TRUMP Coin: 214,180 first-time wallets bought the token, but only 4.61% remained active after 7 days, with less than 5% making more than 5 transactions.
MELANIA Coin: 124,829 first-time wallets bought the token, but only 3.22% remained active after 7 days, with less than 2% making more than 5 transactions.
The data suggests that celebrity tokens generate short-term hype but fail to convert new users into long-term participants in the crypto ecosystem. For true adoption, the article argues that the industry needs better infrastructure, education, and real-world utility rather than relying on celebrity endorsements.
Anytime a new token or memecoin is about to be launched, crypto native people always talk about how this new token is going to onboard a certain number of newbies and make them regular users of crypto apps and infrastructure. This has been a myth that has persisted for too long, so I decided to conduct a proper research to determine how well these tokens actually onboard new users and how many of these users are retained or stay longer in the ecosystem after the launch. The crypto space is rife with promises that often go unfulfilled, which raises an important question: what happens to the onboarding narrative in the long run?
To get detailed results, I decided to analyze two of the most hyped celebrity tokens launched by the most powerful man and woman on earth the President of the United States, Donald Trump's TRUMP coin, and his First Lady's MELANIA coin. Given their positions and cult followings, I assumed they would have the influence to attract more people to trade a token officially linked to them and confirmed by their team.
A little backstory: In mid-January 2025, just days before President-elect Donald Trump's inauguration, the cryptocurrency world was ignited by the launch of two high-profile meme coins: $TRUMP and $MELANIA. These tokens, officially endorsed by Donald Trump and First Lady Melania Trump, were introduced as a means to engage their supporters and take advantage of the growing crypto market.
TRUMP coin was the first to be created on January 17, 2025, and saw massive acceptance, pushing it to a peak market cap of around $77 billion in FDV. Two days later, First Lady Melania Trump's token, MELANIA, was also launched.
Based on on-chain data, both tokens saw a massive influx of 1st time trader (first time wallets) who bought these tokens as their first trade on their respective wallets. At the time of this analysis, TRUMP token had 214,180 wallets and MELANIA token had 124,829 wallets who bought each of these tokens as their first trades on the wallets. These are impressive numbers and good enough to use as base for this study.
With this numbers, I decided to drill down further to see the subsequent activities of these wallets after buying TRUMP and MELANIA tokens respectively, what I found out was quite surprising.
For TRUMP token
214,180 first time trade wallets
48,177 (22.49%) of these wallets haven't traded anything after TRUMP token
104,762 (48.91%) of these wallets have only made between 1 - 10 transactions after TRUMP token.
To further analyze retention, I applied a filter to check which of these wallets were still actively trading in the past 7 days. Here are my findings:
4,874 (2.28%) of these wallets have made up to 5 transactions in the last 7 days.
3,076 (1.44%) of these wallets have made up to 10 transactions in the last 7 days.
1,905 (0.89%) of these wallets have made up to 20 transactions in the last 7 days.
This means that less than 5% of perceived newbies were retained after the launch of TRUMP token despite the fact that it was linked to one of the most powerful individuals on earth.
Now lets check for MELANIA token
124,829 first time trade wallets
36,171 (28.98%) of these wallets haven't traded anything after MELANIA token
64,813 (51.92%) of these wallets have only made between 1 - 10 transactions after MELANIA token.
Checking for wallets that were actively trading in the last 7 days, I found:
2,011 (1.61%) of these wallets have made up to 5 transactions in the last 7 days.
1,225 (0.98%) of these wallets have made up to 10 transactions in the last 7 days.
786 (0.63%) of these wallets have made up to 20 transactions in the last 7 days.
These results show a similar findings for both tokens, with very few wallets remaining active on-chain. While this study cannot fully account for all factors such as existing traders creating new wallets, it still highlights the limitations of hyped celebrity tokens in onboarding new users into the crypto or Web3 ecosystem.
The data suggests that while these tokens created initial hype and engagement, they fail to convert a significant percentage of new users into long-term participants in the space. The notion that celebrity tokens alone can drive mass adoption appears to be false and more of a marketing gimmick than a sustainable growth strategy for the broader crypto ecosystem.
For true crypto adoption, a more better and engaging infrastructure is needed, one that provides lasting utility beyond speculative trading. Education, seamless user experience, and real-world use cases will play a far greater role in onboarding and retaining users than any celebrity endorsement ever could.
Trump coin first time buyer - https://dune.com/queries/4800466
Trump coin first time buyer summary - https://dune.com/queries/4801015
Melania coin first time buyer - https://dune.com/queries/4806300
Melania coin first time buyer summary - https://dune.com/queries/4806369
This article investigates the effectiveness of celebrity-endorsed tokens in onboarding new users into the crypto ecosystem. Using TRUMP and MELANIA coins launched in January 2025 and endorsed by Donald Trump and Melania Trump as case studies, the analysis reveals that while these tokens attracted significant initial interest, they failed to retain users long-term. Key findings include:
TRUMP Coin: 214,180 first-time wallets bought the token, but only 4.61% remained active after 7 days, with less than 5% making more than 5 transactions.
MELANIA Coin: 124,829 first-time wallets bought the token, but only 3.22% remained active after 7 days, with less than 2% making more than 5 transactions.
The data suggests that celebrity tokens generate short-term hype but fail to convert new users into long-term participants in the crypto ecosystem. For true adoption, the article argues that the industry needs better infrastructure, education, and real-world utility rather than relying on celebrity endorsements.
Anytime a new token or memecoin is about to be launched, crypto native people always talk about how this new token is going to onboard a certain number of newbies and make them regular users of crypto apps and infrastructure. This has been a myth that has persisted for too long, so I decided to conduct a proper research to determine how well these tokens actually onboard new users and how many of these users are retained or stay longer in the ecosystem after the launch. The crypto space is rife with promises that often go unfulfilled, which raises an important question: what happens to the onboarding narrative in the long run?
To get detailed results, I decided to analyze two of the most hyped celebrity tokens launched by the most powerful man and woman on earth the President of the United States, Donald Trump's TRUMP coin, and his First Lady's MELANIA coin. Given their positions and cult followings, I assumed they would have the influence to attract more people to trade a token officially linked to them and confirmed by their team.
A little backstory: In mid-January 2025, just days before President-elect Donald Trump's inauguration, the cryptocurrency world was ignited by the launch of two high-profile meme coins: $TRUMP and $MELANIA. These tokens, officially endorsed by Donald Trump and First Lady Melania Trump, were introduced as a means to engage their supporters and take advantage of the growing crypto market.
TRUMP coin was the first to be created on January 17, 2025, and saw massive acceptance, pushing it to a peak market cap of around $77 billion in FDV. Two days later, First Lady Melania Trump's token, MELANIA, was also launched.
Based on on-chain data, both tokens saw a massive influx of 1st time trader (first time wallets) who bought these tokens as their first trade on their respective wallets. At the time of this analysis, TRUMP token had 214,180 wallets and MELANIA token had 124,829 wallets who bought each of these tokens as their first trades on the wallets. These are impressive numbers and good enough to use as base for this study.
With this numbers, I decided to drill down further to see the subsequent activities of these wallets after buying TRUMP and MELANIA tokens respectively, what I found out was quite surprising.
For TRUMP token
214,180 first time trade wallets
48,177 (22.49%) of these wallets haven't traded anything after TRUMP token
104,762 (48.91%) of these wallets have only made between 1 - 10 transactions after TRUMP token.
To further analyze retention, I applied a filter to check which of these wallets were still actively trading in the past 7 days. Here are my findings:
4,874 (2.28%) of these wallets have made up to 5 transactions in the last 7 days.
3,076 (1.44%) of these wallets have made up to 10 transactions in the last 7 days.
1,905 (0.89%) of these wallets have made up to 20 transactions in the last 7 days.
This means that less than 5% of perceived newbies were retained after the launch of TRUMP token despite the fact that it was linked to one of the most powerful individuals on earth.
Now lets check for MELANIA token
124,829 first time trade wallets
36,171 (28.98%) of these wallets haven't traded anything after MELANIA token
64,813 (51.92%) of these wallets have only made between 1 - 10 transactions after MELANIA token.
Checking for wallets that were actively trading in the last 7 days, I found:
2,011 (1.61%) of these wallets have made up to 5 transactions in the last 7 days.
1,225 (0.98%) of these wallets have made up to 10 transactions in the last 7 days.
786 (0.63%) of these wallets have made up to 20 transactions in the last 7 days.
These results show a similar findings for both tokens, with very few wallets remaining active on-chain. While this study cannot fully account for all factors such as existing traders creating new wallets, it still highlights the limitations of hyped celebrity tokens in onboarding new users into the crypto or Web3 ecosystem.
The data suggests that while these tokens created initial hype and engagement, they fail to convert a significant percentage of new users into long-term participants in the space. The notion that celebrity tokens alone can drive mass adoption appears to be false and more of a marketing gimmick than a sustainable growth strategy for the broader crypto ecosystem.
For true crypto adoption, a more better and engaging infrastructure is needed, one that provides lasting utility beyond speculative trading. Education, seamless user experience, and real-world use cases will play a far greater role in onboarding and retaining users than any celebrity endorsement ever could.
Trump coin first time buyer - https://dune.com/queries/4800466
Trump coin first time buyer summary - https://dune.com/queries/4801015
Melania coin first time buyer - https://dune.com/queries/4806300
Melania coin first time buyer summary - https://dune.com/queries/4806369
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