So it’s been observed that airdrop projects don’t make it to the uptrend after launch, 90% of all airdrop projects dump after launch. Who is to blame? The market, the airdrop recipients, the project or the traders. We have seen projects that did so well in terms of airdrop and in return the community made sure they were good in terms of token price and trading volume, we have also seen projects that did great in airdrop but sadly their token price tanked like a war zone, for instance wormhole.
Source
Wormhole gave a very nice airdrop, most people that got the airdrop were excited and proud of the project. They were so excited most of them didn’t sell, but guess what? The token started dumping, who is selling? If the community is happy and not dumping, who is dumping it? That was the biggest mystery, I have few friends that were eligible with 5 - 6 figures but didn’t sell, after few months they sold at a very huge loss, because the token tanked so bad.
With all these experiences people are beginning to short airdrop tokens at launch days especially airdrop tokens that disappointed its community. For instance, Starknet disappointed its community and they have been selling and shorting it since its launch date, other people are doing the same and making money from shorting airdrop tokens, a decrease in price is almost guaranteed to happen, either through token airdrop sales or unhappy community or users who also short the market to get back at the project for using them. Lots of people have been shorting new airdrop tokens and its been going fine for them, their secret is look for an airdrop project that has made their community unhappy, then short them on launch day.
My strategy with Airdrops is to always sell half of what I earn as soon as possible, because airdrops are most likely to dump. There will be people who got their share of the airdrop for low-to-no effort, and they'd dump at any price they see.
P.S. I have a few Airdrops I need referrals for, and I'll pay in HIVE for you to join if you're interested: https://inleo.io/threads/view/ahmadmanga/re-hivelist-33mf2qiug?referral=ahmadmanga