I. Introduction#
Many friends online and offline want to know how I have held onto $shib. I have shared this experience with different people multiple times. Last year, due to continuous losses, I was not in the mood to organize my thoughts. Now, taking advantage of the market downturn, I reflect on this journey and extract some insights for myself and everyone to reference in the next bull market.
This short article is not meant to show off; after all, the money earned in the bull market has been lost, so there's nothing to boast about. I just hope to survive the bear market and regroup with my brothers.
From late January to early February 2021, $doge surged tenfold. I stopped my long position in $doge due to Bitcoin's drop from 40,000 to below 30,000, and I felt deep regret. At the same time, I realized from the rise of $doge that if there was another opportunity, I must closely follow Musk. This laid the groundwork for my later purchase of $shib.
Those days are destined to be unforgettable. I slacked off at work during the day and hardly slept at night, actively participating in various group chats to relieve anxiety. Every midnight, group friends would share their profits, which were several or even dozens of times.
Before buying $shib, many old coin friends had already entered the A8 ranks due to holding bnb/cake or participating in DeFi mining. Meanwhile, I had gone from a loan of 200,000 from China Merchants Bank in 2019 to only 100,000 in 2020, and at the beginning of 2021, I only reached a maximum of 200 coins, far behind my group friends. At that time, I compared myself internally: if I continued to play mainstream or common altcoins, I would no longer be able to catch up with them and might even end up taking over their positions. I had a strong desire to seize a hot trend and amaze everyone.
II. The Gears of Fate Begin to Turn#
Looking back, it has been two and a half years since this picture was taken, as if it were just yesterday.
On the morning of March 15, I sent this message in a small group, which contained quite a bit of information in just a few sentences. First, I had researched on the night of March 14 and didn't dare to claim to be the first discoverer in the country, but at that time, no one mentioned it in WeChat. Because no one mentioned it, I lacked confidence and did not enter that night. On the morning of the 15th, seeing other big shots in the group buying in, I followed suit, and this big shot was none other than the famous Mr. Li @liping007.
Small group CX $shib
Mr. Li led the purchase
Checking the records, that morning I bought about 650 billion, at the current price of 0.00000817650000000000 = 5.31 million USDT, and at the highest price of $shib 0.00008836650000000000 = 57.43 million USDT. Of course, this is just a pleasant calculation; the actual amount received was far from that.
On-chain purchase record
The following image is a small episode; at that time, Jinse Finance did indeed release a news flash about $shib, but I have forgotten the content. After seeing it, I shared it with group friends, but because Jinse Finance was unreliable, the friends ignored it.
Second CX $shib
Since buying on March 15, the price rose less than double before continuously declining. From the purchase until a month before the explosive rise on April 16 on Matcha, I was trapped by $fei and lacked funds, selling at the original price of 20,000 USDT, leaving a position of 30,000 USDT. During this time, the 30,000 USDT was halved to 15,000 USDT.
At the end of March, the entire network was fomo-ing into stablecoin $fei, and I invested about 200,000 W with my entire position. Therefore, the period when $SHIB did not rise was difficult to endure, as there was no capital to operate, and I had to endure friends showing off their skyrocketing coins. At that time, I truly felt that this money might not come back, thinking that the money earned in the bull market would just disappear, which was incredibly despairing. Fortunately, half a month later, things took a turn for the better.
III. The First Crazy Surge of $shib (Resignation Incident)#
On April 16, an ordinary Friday, Matcha listed $SHIB, coinciding with a good brother from my startup coming to Shenzhen, and we had dinner and a massage reminiscing about the past. That weekend, I didn't sleep at all, boasting while keeping a close eye on Matcha, not taking my eyes off it.
From the 16th to the 19th, it surged more than 20 times. It rose to a point where I no longer cared about my entire locked position in $fei.
I don’t know why I was so determined not to sell $shib at that time; perhaps it was the eagerness to get rich. My mind was actually clear, and I even made some trades to acquire lower-priced chips.
On-chain recharge to gate.io
Here, I must praise gate.io; although I don't like its UI and interaction, other exchanges only allow checking records for a year at most, while gate.io seems to allow checking all records, and the search is quick.
The K-line chart of the first surge
On Monday, April 19. I arrived at the company around 10 AM to organize work on WeChat, confirming processes for tasks assigned by my leader, and he replied with this:
Unexplainably confronted
At that moment, my mind exploded; I thought, "Do whatever you want." After saying that, he wanted me to go to the office for a talk, which lasted half an hour. I asked, "Are you done? Once you're done, I have something to say: 'I want to resign.'"
Saying it felt like the thrill of a male protagonist in a web novel making a comeback, mainly because I had endured him for too long, as he often squeezed me.
Looking back, I didn't do it decisively enough; I cared too much about face and regretted not confronting him directly in the work group. It truly is: "Enduring for a moment makes you angrier the more you think about it; taking a step back makes you feel more at a loss."
Resignation notice
At that time, my total value in $shib was about 600,000 to 700,000 USDT, plus the part trapped in $fei, I could withdraw about 900,000 to 1,000,000 USDT.
The resignation process had some interesting small episodes; when I submitted my resignation, I didn't mention making money, as I am low-key by nature, only saying that my partner is in Guangzhou and I need to go back. This guy tried to keep me for half a month, and during a team-building event, he talked to me alone, trying to persuade me to stay. I couldn't help but say I made some money and wanted to take a break. He knew he couldn't keep me but insisted on asking how much I made. When I replied 7-800 W, he still wanted to save face, saying, "7-800 W is not much; it would be gone if you buy a house in Shenzhen," and I couldn't be bothered to argue.
The funniest part was that a week later, after I had cleared my position, he asked me how things were in the crypto world. I said the previous 7/800 W was about to turn into 2000 W. Oh, he shut up, speechless, and no longer tried to save face.
IV. Clearing Out and Leaving the Market (Crazy Zoo)#
Since the pullback on April 20, there has been no continuous decline, and the trend has been relatively stable, which allowed me to hold on. If it had continued to decline for too long, I might have run away earlier. In just half a month, good news kept coming. More and more people discussed $shib, Musk's rocket launch fans left crazy comments, and everyone firmly believed it could rise further. At that time, the three major exchanges had not yet listed it. At the end of April, Xue Manzi publicly called for buying in. After the call, a few days later, OK, one of the three major exchanges, listed it.
Mr. Li was supportive everywhere
Never so crazy, CX a coin in the circle of friends
I clearly remember that $shib went live on OK on May 8 at noon, as the OK partners hinted that it would go live at 12 noon, but at that time, I was out for lunch with my leader (the resignation procedures were not completed), and I missed the opening due to poor signal in the underground parking lot and elevator, failing to sell at the high point. This episode deepened my hatred for my leader.
In the afternoon, Huobi followed suit and went live. I thought that since both major exchanges had listed it and it had surged so much, Binance, being the first exchange, would not list it quickly even if it did. So, I cleared my position, hoping to buy back when it pulled back. Unexpectedly, Binance listed it on the 10th, and I missed half of A9 in less than 48 hours.
The subsequent story is well-known; the zoo went crazy for more than a week, culminating in the explosive 519. My story with $shib comes to a temporary end.
Three major exchanges went live for two consecutive days
V. Experience & Summary#
Making big money is often attributed to luck, while making it big is said to be fate. But those who can change their fate seem to have many prerequisites. If you completely give up and lie flat, even a deity cannot save you.
To make big money, you need to dare to think. At that time, I wondered why others could succeed when starting from the same point. Of course, I am not saying this because I have made money; if luck were against me, my experience would also be plain.
Making big money relies on fate, but effort is the foundation. During that time, I really worked hard, even staying up late and messing up my schedule to the point of developing kidney stones. I bought into various new projects regardless of whether I understood them, and once I bought them, I would study them, allowing me to seize opportunities when similar projects appeared.
The key is the tenacity of not admitting defeat; I surpassed most of my elementary/middle/high school classmates because of this. Especially in this market, everyone may not operate, but do not leave the circle; the gears of fate will eventually turn towards you.
Investment is ultimately risk management (position management). I suffered heavy losses because I did not learn this in the bear market. I can only say that the next bull market is certain.
Finally, I wish all friends who want to turn their fortunes around in the crypto world can buy their own $shib.
OKX Activities This Month#
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