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 during the bull market has been lost, so there’s nothing to boast about. I just hope to survive the bear market and rally with my brothers.
At the end of January to early February 2021, $doge surged tenfold. I had to stop-loss my $doge long position when Bitcoin dropped from 40,000 to below 30,000, which left me feeling deeply regretful. At the same time, I learned from the rise of $doge: if there’s another opportunity, I must closely follow Musk. This laid the groundwork for my later purchase of $shib.
Those days were destined to be unforgettable. During the day, I slacked off at work, and at night, I hardly slept, active in various group chats to relieve anxiety. Every midnight, group friends would flaunt their returns of several times or even dozens of times.
Before buying $shib, many old coin friends had already entered the A8 ranks by holding bnb/cake or participating in DeFi mining. Meanwhile, I had seen my 200,000 borrowed from China Merchants Bank in 2019 dwindle to only 100,000 by 2020, and at the beginning of 2021, it peaked at only 200. I felt far behind my group friends. At that time, I compared internally: if I continued to play mainstream or common altcoins, I would no longer be able to catch up with them and might instead be left holding the bag. I strongly desired 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, as if it were 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 it 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 on WeChat. Because no one mentioned it, I lacked confidence and didn’t get in that night. On the morning of the 15th, seeing other group leaders buying in, I followed suit, and that leader was the famous Mr. Li @liping007.
Small group CX $shib
Mr. Li led the purchase
Checking the records, that morning I bought about 650 billion, which 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 less.
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 mentioned it to group friends, but because Jinse Finance was not reliable, my friends ignored it.
Second CX $shib
Since buying on March 15, it rose less than double before continuously declining. From the purchase until a month before the explosive rise on April 16, I was trapped by $fei and lacked funds, selling out at 20,000 USDT at the original price, leaving a 30,000 USDT position. During this time, the 30,000 USDT was cut down to 15,000 USDT.
At the end of March, the whole network was fomoing into stablecoin $fei, and I invested my entire position of about 200,000. Therefore, the period when $SHIB did not rise was difficult to endure, as I had no funds to operate and had to endure friends flaunting their skyrocketing coins. At that time, I truly felt that this money might not come back, thinking that the money earned during 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, $SHIB was listed on the exchange, 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 the exchange, not taking my eyes off it.
From the 16th to the 19th, it surged over 20 times. It rose to a point where I no longer cared about my entire locked position in $fei.
For some reason, I was determined not to sell $shib at that time, perhaps because I was eager 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 up to a year, 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. After arriving at the company around 10 a.m. to organize work on WeChat, I confirmed the process for tasks arranged by my boss, 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 to talk, and after half an hour of his rambling, I asked, “Are you done? If you’re done, I have something to say: ‘I’m resigning.’”
Saying it felt like the exhilarating moment 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 harshly enough; I cared too much about face and regretted not confronting him directly in the work group. It really is true: enduring for a moment makes you angrier the more you think about it, and taking a step back makes you feel like you’ve lost more.
Resignation notice
At that time, my total value in $shib was about 600,000 to 700,000 USDT, plus the trapped portion of $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 because of my low-key personality, only saying that my partner needed to return to Guangzhou. This guy tried to persuade me to stay for half a month, and during a team-building event, he talked to me alone to persuade me. I couldn’t help but say I made some money and wanted to take a break. He knew he couldn’t persuade me but insisted on asking how much I made. When I replied 7-800,000, he still wanted to save face, saying “7-800,000 isn’t much, it’s gone when 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 7-800,000 had quickly turned into 2 million. Oh, he shut up, speechless, and no longer sought to save face.
IV. Clearing Out and Exiting (The Crazy Zoo)#
Since the pullback on April 20, it has not continued to decline but has shown a relatively stable trend, which allowed me to hold on. If it had declined 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 launched rockets, and fans left crazy comments, with everyone firmly believing 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. A few days later, the three major exchanges, including OK, were listed.
Mr. Li was supportive everywhere
Never so crazy, friends flaunting one coin
I clearly remember that $shib went live on OK at noon on May 8, as my OK partner hinted it would go live at noon 12 o'clock, but at that time, I was out having lunch with my boss (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 resentment towards my boss.
In the afternoon, Huobi followed suit. I thought that since both major exchanges had listed, Binance, being the first exchange, wouldn’t be quick to list it even if it did, so I cleared my position, hoping to buy back when it pulled back. Unexpectedly, Binance listed on the 10th, and I missed half of A9 in less than 48 hours.
The subsequent story is well-known; the zoo was crazy for more than a week, culminating in the explosive 519. My story with $shib comes to a close.
Three major exchanges listed 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 gods can’t save you.
To make big money, you need to dare to dream. At that time, I wondered why others could succeed when starting from the same point; of course, I’m not saying this because I’ve made money; if luck were bad, my experience would also be plain.
Making big money relies on fate, but effort is the foundation. During that time, I truly fought hard, even staying up late and messing up my schedule to the point of getting 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 determination not to give up; I surpassed most of my elementary/middle/high school classmates because of this. Especially in this market, everyone may not operate, but don’t leave the circle; the gears of fate will eventually turn towards you.
Investment ultimately is risk management (position management). I suffered heavy losses because I didn’t learn this during the bear market. I can only say there will definitely be another bull market.
Finally, I wish all friends who want to turn their fortunes around in the crypto world can buy their own $shib.
OKX This Month's Activities#
New users who register on OKX this month can receive a blind box or Dogecoin gift pack. You can register directly in China: Click here to jump to the official website to register an OKX account; some regions may require a VPN or alternative link
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