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Discover Ludwig"is plummeting" is a correct and usable phrase in written English.
It is commonly used to describe a sharp and sudden decrease or decline in something. Example: "The stock market is plummeting due to the ongoing economic crisis."
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Tourism is plummeting.
His popularity is plummeting.
Wine consumption is plummeting.
Meanwhile, the water table is plummeting.
"Consumer confidence" is plummeting nationwide.
And now he is plummeting.
Our economy is plummeting into the unknown.
The temperature in the room is plummeting.
Just as well — her adrenaline level is plummeting.
But the productivity of African waters is plummeting.
Her move suggests she is confident his leadership is plummeting.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com