If I had to snapshot a single community metric to price NFT drops fairly, I would choose:

🔥 Engaged Wallet Count (EWC) over a recent, rolling window (e.g., 7 or 14 days)

Why this metric?

Signals real demand: It measures how many unique wallets have actively engaged (liked, commented, retweeted, joined Discord discussions, or interacted with dApps related to the project) — not just followers or holders. These are users showing recent interest and intent.

Filters bots and inactive accounts: Unlike Discord member counts or Twitter followers, EWC captures behavioral activity, making it harder to game.

Reflects current market sentiment: A 7-day EWC gives a snapshot of how hot or cold the project/community currently is. This avoids overpricing based on past hype.

Scales with community maturity: It grows as the project earns trust and engagement over time — aligning fair pricing with proven traction.

Liquidity proxy: The more engaged wallets, the more likely there's post-mint demand — protecting against overpriced mints and bag-holding.

Bonus:

You could normalize price tiers based on EWC ranges. Example:

0–500 active wallets → <$50 mint

500–2000 → $50–$150

2000+ → $150+ or Dutch auction

This creates a data-driven pricing logic that respects the real size and heat of the community.