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

Interesting opinion, it reminds me of the upcoming Pump dot fun drop. $500M in revenue generated, zero dollars redistributed, and an ICO in the works. I’m really wondering what the launch will look like it’ll be a real case study.