Waiting for an Offer Letter from My Dream Company: Should I Keep Hoping or Move On?

I was interviewed, and the HR said that I would receive an offer letter soon. However, after a few days, I did not receive an offer, but others did get the offer letter. I emailed the HR but did not receive any reply to any of my emails. I then used my contact in the firm to verify, and they replied to my friend, stating that it is on hold.

Now, does this mean that they will not send an offer letter, and I should move on? It's been more than 5 months, and they didn't reply to any of my emails. It's a big firm, an MNC. Is this how HR communicates that you are not hired, etc.?

It's like my dream company, and I can wait for a year as long as I am sure that they will send the offer. Some of my friends mentioned that they know people who received the offer letter after 8 months or so. Do I need to wait or move on considering it's been over?

Thank you.

My suggestion would be as follows: If you receive another job offer now, consider taking it. After one year, or whenever you receive your dream offer, evaluate whether it is still worth accepting that offer. If you continue to wait without securing another job, there is no guarantee that you will land your dream job after a year.

Thank you.