FriendTech’s native Friend token has dropped sharply from its brief peak at $169 to now trading at around $1.6, marking a fall of over 99%, according to DexScreener.

The native token of the web3 social media platform currently has almost 18,000 holders and a circulating supply of about 14.5 million. 

Most of the selling took place while several users said on X that they were still unable to claim the airdrop. "Watching the value of my airdrop go from 7 figures to 5 figures in the span of 2 hours while I keep refreshing the page trying to claim....still can't claim. Adds insult to injury," crypto investor Luke Martin posted.

Others have speculated that the price dump may have been driven by liquidity issues. Liquidity refers to the market’s capacity to handle significant buy and …