My buddy's Exploder was doing this a while back. He got it for $1000 due to the issue, and after a $200 cat he sold it for $8K. It was the catalytic converter that got clogged up. I could understand it being fuel related if it was missing or cutting off but it's not. If the exhaust gets clogged it will be killing power just like that.
Unbolt it right before the cat and take it for a SHORT drive. It will be loud but that's the quickest way to troubleshoot and it's free! Then replace cat and done!
Hope all goes well man, good luck