This lead Viking-era pendant of Norse God Thor’s hammer was unearthed this past summer of 2023 near the Swedish town of Ysby. Similar to others such as the 10th-Ödeshög pendant shown in the second image, it speaks to a continuity of the Norse religion in an area where Christianity was steadily encroaching. Like the crucifixes worn by some Christians today, wearing Mjölnir — the fabled hammer of Thor — might have been an intentional signaling to others what the religious orientation of the wearer was.
Mjölnir in Norse mythology has many legends associated with it, but an important one is that dwarves made it for the God of storms to assist him in his battles against the giants. Thor was associated with seafaring, and so maybe this item would have been worn for protection by Vikings who frequented water travel in the tenth- and eleventh- centuries. In general, Thor’s hammer was for defence, and so the pendant might have been wanted for spiritual protection.
Source: https://www.livescience.com/thor-hammer-amulet-found-sweden