There is 0% chance that 98% drop was caused by retail selling. This is a coordinated attack.

First of all, I am thankfully not invested in TerraLuna. My heart goes out to everyone impacted by the price drop and I hope you seek the necessary help. Nothing is worth losing your life over.

Terra's market dropped from 6.7 billion USD to 790 million USD in 24 hours. Do people seriously think that this sharp decline in price can be tied to retail dumping billions in a matter of hours? Bullshit.

Few whales got together and exploited the mistake on Terras part, eventually wiping out retail money for their own profit. There is no evidence yet as it is too soon to be 100% sure, but there are many theories about potential exploits and some people have been warning in the past about it.