I. Introduction#
Many friends online and offline are curious about how I have held onto $shib for a long time. 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 calm market, I reflect on this journey and summarize my experiences and viewpoints for myself and everyone to reference in the next bull market.
This sharing is not meant to boast; I have lost all the profits made during the bull market and cannot pretend otherwise. I only hope that my brothers can endure the bear market and rise again.
From late January to early February 2021, $doge skyrocketed tenfold. At that time, I stopped my long position on $doge due to Bitcoin's drop from 40,000 to below 30,000 and was very frustrated. At the same time, I realized from the $doge surge that I must closely follow Musk in the future. 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. Every midnight, group friends would show off their profits, which were several times or even dozens of times.
Before buying $shib, many old friends in the crypto space had reached A8 asset levels due to 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 only had a maximum of 200 tokens, far behind my group friends. After comparing, I concluded that if I continued to play mainstream or common altcoins, I would not be able to catch up with them and would only become a bag holder. At that time, I had a strong desire to seize the hot trend and amaze everyone.
II. The Wheels 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 just yesterday.
On the morning of March 15, I sent this message in a small group, short but informative. On the night of March 14, I had already researched $shib, and although I couldn't claim to be the first in the country to discover it, no one mentioned it in WeChat search, and my confidence was insufficient to invest. After seeing the big shot @liping007 (Mr. Li) CX on the morning of the 15th, I immediately followed suit.
Small group CX $shib
Mr. Li led the buying
Checking the records, the early purchase was about 650 billion tokens. The current price is 0.00000817650000000000=5.31 million U, and the highest price is 0.00008836650000000000=57.43 million U. Although the calculations are satisfying, the actual gains are far less.
On-chain purchase records
A small episode: Jinse Finance once released a news alert about $shib (the content is forgotten), and I used this to CX my group friends, but since that media outlet is unreliable, the group friends ignored it.
Second CX $shib
After buying on March 15, it once surged nearly double, then fell gradually. Before the spike on April 16 on Matcha, I was trapped by $fei and lacked funds, selling 20,000 U worth of $shib at the original price, leaving a 30,000 U position. In the meantime, the 30,000 U was halved to 15,000 U.
At the end of March, the entire network was fomo-ing into the stablecoin $fei, and I invested about 2 million with all my funds. It was tough when $SHIB did not rise: I had no money to operate and saw group friends flaunting their skyrocketing coins. I deeply felt that my funds might not be able to escape, thinking that the profits earned in the bull market would be lost, leading to extreme despair. Fortunately, half a month later, things took a turn for the better.
III. The First Crazy Surge of $shib (Resignation Incident)#
On Friday, April 16, Matcha listed $SHIB. Coincidentally, my entrepreneurial brother came to Shenzhen, and we had dinner and a massage reminiscing about the past. That weekend, I couldn't sleep, chatting while keeping an eye on Matcha, not taking my eyes off it.
From the 16th to the 19th, it surged over 20 times. The rise made me no longer worry about the $fei locked position.
I don't know why I firmly held onto $shib without selling, perhaps out of a desire to get rich quickly. My inner self was even more awake, and I could have made more profits through short-term trading for lower entry points.
On-chain recharge to gate.io
Here, I praise gate.io: although I don't like its UI and interaction, it has records for only one year, while gate.io allows checking all records quickly.
First surge K-line chart
On Monday, April 19, I arrived at the company after 10 a.m. to organize work on WeChat for business, confirming processes for tasks assigned by my leader, who replied:
Unreasonably confronted
My inner self exploded: "Do whatever you want." After he finished, he called me to the office to chat for half an hour. When he stopped, I asked, "Are you done? I have something to say: I want to resign."
This statement felt as satisfying as a male protagonist in a web novel who turns the tables, mainly because I had endured him for a long time, and he often squeezed me.
Looking back, I still feel it wasn't harsh enough; I cared too much about face and regretted not confronting him directly in the work group. It truly reflects: enduring for a moment leads to more anger, taking a step back leads to more losses.
Resignation notice
At that time, the total value of $shib was about 600,000 to 700,000 U, and after cashing out $fei, it could reach 900,000 to 1,000,000 U.
The small episode of my resignation was interesting: I didn't mention making money when I proposed my resignation, as I am low-key and only said my partner needed me back in Guangzhou. He tried to keep me for half a month, and during team-building, he talked to me alone endlessly. I helplessly admitted that I wanted to take a break after making some money. He knew he couldn't keep me but asked about the amount, and when I replied that I earned 7 to 8 million, he tried to save face by saying, "Buying a house in Shenzhen would wipe it out," and I was too lazy to argue.
The most interesting part was a week later when I was almost fully cashed out; he asked how the crypto market was, and I said my 7 to 8 million was about to turn into 20 million. Oh, he was left speechless and no longer sought to save face.
IV. Cashing Out (Crazy Zoo)#
After the pullback on April 20, there was no further decline; the trend stabilized, which was the main reason I held on. If it had continued to drop, I would have sold early. Moreover, within half a month, good news kept coming: discussions about $shib heated up, Musk's rocket launch had fans flooding the comments, and everyone believed it would rise. The three major exchanges had not listed it yet. At the end of April, Xue Manzi publicly called for buying in, and a few days later, OK listed it.
Mr. Li's support everywhere
Never seen such craziness in the circle
I clearly remember that $shib went live on OK on May 8 at noon because an OK partner hinted it would go live at 12 o'clock, but that day 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 peak. This episode deepened my resentment towards my leader.
In the afternoon, Huobi quickly followed suit, and I thought: with two major exchanges listed, the first exchange being Binance, even if it rises, it won't be fast, so I decided to cash out completely and wait for a deeper pullback to buy again. Unexpectedly, Binance acted unscrupulously and listed it on the 10th, causing me to miss half of A9 within 48 hours.
The subsequent events are well-known: the zoo surged for more than a week, followed by a 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 and greatly depends on fate. However, those who change their fate seem to rely on chance, but there are many prerequisites. If you completely give up, even a deity cannot save you.
To make big money, you need to dare to think. At that time, I asked myself: if others starting at the same time can succeed, why can't I? It's not just because I've made money; if luck were bad, my experience might have been plain.
Making big money relies on fate, but effort is fundamental. During that time, I pushed myself to the limit: staying up late and disrupting my routine led to kidney stones. For any new project, regardless of whether I understood it, I would buy a little, and once bought, I would research it, seizing opportunities when similar situations arose.
The key is the determination not to give up, which allowed me to surpass most of my classmates from small, medium, and large universities. In this market, everyone may not operate, but do not leave the circle; the wheels of fate will eventually turn to you.
The endgame of investing is risk management (position management), which I did not learn, leading to severe losses in the bear market. I can only say that I will definitely change in the next bull market.
Finally, I wish that all those who turn their fortunes in the crypto space can buy their own $shib.
OKX Activities This Month#
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