yes you are right stellar is good coin and have much attention of crypto traders a little bit price down makes traders to buy more and hold that's why price is not getting down by giveaways coins. in this current bearish period stellar is performing great .
Well last year they have a big airdrop with blockchain.com when giving away 100 mil $ worth of XLM. Then this year they continue an Airdrop with Keybase, and total airdrop is 120 mil $ and split in 12 months. So it'll effect to XLM price. I'm sure for that.
I am sure when stellar makes airdrops they will think about it carefully, and for the price no one knows whether stellar will be dump or not
And this is one so that Circulating Supply is increasing
They already giving out free airdrops before and i think it is not affecting the price of XLM to go drop since its like a make small portion of supply and maybe of the people who recieve are not dumping it since the value is really low now compared last year.
XLM is good for a long term and better to hodl it since the ATH is mostlike to happen again and i already sold that time.