I. Introduction#
Many friends online and offline are curious about how I hold $shib. I have shared my story with $shib multiple times with different people. Last year, due to continuous losses, I had no heart to organize; now, taking advantage of the market downturn, I reflect on this experience and summarize insights and viewpoints for myself and everyone as a reference for the next bull market.
This sharing is not to boast—I've lost all the money earned from the windfall, and there's no way to pretend. I just hope to survive the bear market and rise again with my brothers.
From late January to early February 2021, $doge surged tenfold. At that time, I stopped loss on my $doge long position due to Bitcoin's drop from 40,000 to below 30,000, feeling very frustrated. The surge of $doge made me realize: if there’s another opportunity, I must closely follow Musk. This laid the groundwork for my later investment in $shib.
That time was unforgettable: I slacked off at work during the day and hardly slept at night, actively participating in various groups to relieve anxiety. In the early morning, I was often stimulated by friends showing off several times or dozens of times their profits.
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 used a 200,000 loan from China Merchants Bank in 2019, lost it down to 100,000 in 2020, and at the beginning of 2021, I had only 200 tokens, far behind my friends in the group. After comparing in my heart, I realized: if I continued to play mainstream or common altcoins, I wouldn’t be able to catch up with them and would become a bag holder instead. At that time, I had a strong desire to seize the hot trend and amaze everyone.
II. The Gears of Fate Begin to Turn#
Looking back, it has been two and a half years since the events in the picture, as if it were yesterday.
On the morning of March 15, I sent a message in a small group, rich in information: on the evening of March 14, I researched $shib. Although I can’t claim to be the first discoverer in the country, no one mentioned it in WeChat search, and my confidence was insufficient to jump in. On the morning of the 15th, seeing the big shot @liping007 (Mr. Li) in the group CX, I immediately followed suit.
Small group CX $shib
Mr. Li took the lead in buying
Checking the records, that morning I bought about 650 billion tokens; at the current price: 0.00000817 * 650000000000 = 5.31 million USDT; at the highest price of $shib: 0.00008836 * 650000000000 = 57.43 million USDT. Although the calculations were satisfying, the actual amount I received was far from it.
On-chain purchase record
A little interlude: Jinse Finance once released a newsflash about $shib, the content of which I have forgotten. I CXed with group friends, as Jinse Finance was unreliable, and they did not take it seriously.
Second CX $shib
After buying on March 15, it once surged nearly double, then immediately declined. Before the surge on April 16 on Matcha, I was trapped by $fei and, lacking funds, sold 20,000 USDT of $shib at the original price, leaving a position of 30,000 USDT. In the meantime, the 30,000 USDT was halved to 15,000 USDT.
At the end of March, the entire network was fomoing into the stablecoin $fei, and I invested about 2 million with my entire holdings. The torment during the period when $SHIB did not rise: no money to operate, and I saw friends in the group’s coins soaring. I felt deeply that funds were hard to come by, and the money earned desperately in the bull market might go up in smoke, leading to extreme despair. Fortunately, after half a month, there was a glimmer of hope.
III. The First Crazy Surge of $shib (Resignation Incident)#
On Friday, April 16, Matcha listed $SHIB. Coincidentally, entrepreneurial brothers came to Shenzhen, and we had a reunion dinner and massage. I didn’t sleep all weekend, chatting casually while keeping a close eye on Matcha, not taking my eyes off it.
From the 16th to the 19th, it surged more than twenty times. It rose to the point where I no longer worried about the locked position of $fei.
At that time, I firmly did not sell $shib, perhaps due to the eagerness to get rich. I was clear-headed and even made short-term trades to acquire lower-cost tokens.
On-chain recharge to gate.io
Here I praise gate.io: although I don’t like its UI and interaction, it has only one year of trading records, while gate.io allows checking all records, and the speed is fast.
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. The leader arranged tasks, and I asked about the process; he replied:
Unreasonably confronted
My heart exploded: do it if you want. After he nagged for half an hour, I asked, “Are you done? I have something to say: I quit.”
Saying it felt as satisfying as a male protagonist in a web novel reversing his fate, as I had endured him for a long time.
Looking back, I still feel it wasn’t ruthless enough, too concerned about face. I regret not confronting him directly in the work group: enduring for a moment made me angrier, and taking a step back made me feel more loss.
Resignation letter
At that time, the total value of $shib was about 600,000-700,000 USDT, and with cashing out $fei, it could reach 900,000-1,000,000 USDT.
The resignation incident was interesting: I didn’t mention making money, just said low-key that my partner needed to return to Guangzhou. He tried to persuade me for half a month, and during team-building, he talked to me alone, nagging endlessly. I could no longer endure and frankly said I made some money and wanted to rest. He knew it was hard to keep me but pressed for the specific amount. When I replied that I earned 7-800W, he tried to save face by saying, “7-800W is not much; it’s gone if you buy a house in Shenzhen,” and I didn’t bother to argue.
The most interesting part was a week later when I cleared my position; he asked how things were in the crypto world. I said 7/800W was about to turn into 20 million. He was left speechless and no longer sought to save face.
IV. Clearing the Position and Exiting (Crazy Zoo)#
After the pullback on April 20, it did not continue to decline, and the trend was stable, so I was able to hold on. If it had continued to drop for a long time, I might have already run away. In the half-month period, good news emerged frequently: discussions about $shib increased; Musk's rocket launch, fans crazily commented hoping for a rise; the three major exchanges had not yet listed. At the end of April, Xue Manzi entered the market and called for buying, and soon OK listed.
Mr. Li promoted vigorously
First crazy CX of a coin in the friend circle
I clearly remember that $shib went live on OK on May 8 at noon: because OK partners hinted it would go live at 12, but I was out for lunch with my leader (the resignation procedures were not completed), and the signal was poor in the underground parking lot and elevator, missing the high opening price. This incident deepened my hatred for the leader.
In the afternoon, Huobi followed suit and went live. I thought: with two major exchanges already listed, Binance being the first, it wouldn’t be too fast if it went live. So I cleared my position, waiting to buy back after a pullback. Unexpectedly, Binance went live on the 10th, and within 48 hours, I missed half of A9.
The subsequent events are well-known: the zoo went crazy for more than a week, followed by the crash on May 19. My story with $shib came to an end.
Three major exchanges went live in two consecutive days
V. Experience & Summary#
Making big money underestimates luck, but greatly relies on fate. However, those who change their fate seem to have many prerequisites. If you completely lie flat, even gods can’t save you.
To make big money, you need to dare to think: at that time, I asked myself why I couldn’t act like those who started at the same time? It’s not because I’ve made money that I say this; if luck were bad, my experience might have been plain.
Making big money relies on fate, but effort is the foundation: during that time, I gave my all, and the irregular sleep schedule led to kidney stones. For new projects, whether I understood them or not, I bought in, and after buying, I researched, similar projects seized the opportunity.
The key to not giving up: with this, I surpassed most classmates. In this market, you may not operate, but don’t leave the circle; the gears of fate will eventually turn to you.
Investment ultimately is about risk management (position management): I didn’t learn to avoid severe losses in a bear market. I must change in the next bull market.
I hope that those who turn their fortunes in the crypto world will all encounter their own $shib.
OKX Activities This Month#
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Related Reading#
The Latest Ranking of China's Top Ten Virtual Currency Trading Platforms for 2025 is Out 🔥【Worth Collecting】
【Real Stories of Getting Rich in the Crypto World】Many people ask me, after years of trading coins, how did I go from 0 to 11 million and then to a debt of 100,000?
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