Notcoin’s airdrop saw its price plummet 73% from its peak, with only 15% of holders in profit. Launched with 40 million users, its $806 million valuation halved as mass sell-offs hit. Key lessons include over-hype inflating expectations and inadequate utility driving dumps. Risk management strategies should emphasize clear tokenomics, phased unlocks (unlike NOT’s instant distribution), and ecosystem incentives to deter panic selling. Diversifying user bases and educating on long-term value could mitigate such crashes, as seen in NOT’s post-airdrop decline to 2.8 million holders.