airdrops are bullish for token price if the project has a strong community and the distribution is dialed-in, because the tokens go to people who believe they will be worth a lot more in future. 

airdrops are bearish for token price if the community is weak and/or the distribution too broad and the marginal recipient just sees it as free sky money.

noun seven three zero | onchain experimentation maxi @ zerorights.media, zeropod.xyz, @betrmint, the /yellow collective

There are people that buy at lows and sell at highs, most just sell at highs it has been taught. If we can punish sellers by following airdrop with value to cause regret.