The price of OMG Network (OMG) has plunged 33% from a daily high of $19.35 down to around $xiii immediately after completion of the snapshot for an airdrop from the Boba Network.

The snapshot of all wallets property OMG tokens on the Ethereum network and the layer-two Boba Network took place at 12 am UTC on Friday. OMG holders at the fourth dimension of the snapshot will receive BOBA, the governance token for Boba DAO on November. xix.

Boba is an Optimistic Rollup layer-2 solution that helps to calibration Ethereum smart contracts, built by the Enya team as core contributors to the OMG Foundation. BOBA token holders will be eligible to submit and vote on proposals for Boba DAO.

Boba Network tweeted at 12:04 am UTC that the snapshot occurred at Ethereum block xiii,597,967 and on Boba Network block 15,354.

Around ten minutes later, the 100eyes Crypto Scanner account tweeted a "Baroque action alarm" on the dramatic price plunge, which may have been caused past OMG holders trying to get ahead of "sell the news" price activeness.

Boba Network appear the airdrop on Sep. 20, when OMG was at nearly $9.50. The airdrop was part of a larger campaign to promote awareness of Boba Network launching its mainnet.

Related: Early Ethereum Proper name Service (ENS) adopters rewarded with a hefty five-figure airdrop

Since and so, OMG has seen two significant price spikes between Sep. 29 and October. 5 to $16.76 and again more than recently on Nov. 5 to a nearly four-yr high of $xix.35. Analysts had anticipated higher price potential on OMG since the Boba proclamation due to the high amount of interest in the airdrop.

Elevation 10 crypto exchanges including Binance, Crypto.com, Huobi, Gate.io, Bitfinex, Binance.US and FTX are supporting the BOBA airdrop for its users.

OMG's price has been on a slow upward grind since July 21 of this year when its price bottomed out at a four-year low of $3.21, according to CoinGecko.