All depends on the project you are participating in. If the project is promising then it's better to hold tokens for the long term. But if you need money for living you can sell tokens which you consider not very good to hold for a long time. Or you can sell 50% and hold another 50% for long term.
On the market like today, increasing in price is the difficult task even for a worthy token. Airdrop does not require much time and you will not get many tokens if you do not use referrals. I usually use a Hodl strategy when participating in airdrops.