Look at the whole crypto market. Is dipping really hard right now. It's not OMI alone. A lot of fear in the market, which you can see here .
A lot of recent buyers are selling at a loss. You can see that from some charts from glassnode.com.
Really, I don't know when this will recover. I do believe, it will recover, no doubt about that. Crypto is here to last and has endured a lot more since it's beginning.
Patience is the key.