I. Introduction#
Many friends online and offline are curious about how I managed to hold 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 will review this journey in full and summarize some experiences for myself and my friends to reference in the next bull market.
This article is not meant to boast (after all, the money blown in by the wind has been lost), but I just want to share with my brothers to get through the bear market winter together and wait for a comeback.
From late January to early February 2021, $doge surged tenfold. At that time, I regretted stopping my $doge long position after Bitcoin dropped from 40,000 to below 30,000, but I also realized the truth from this pump: following Musk closely is the way to have a chance. This laid the groundwork for my later entry into $shib.
That time was unforgettable. During the day, I slacked off at work, and at night I tossed and turned, mingling in communities to relieve anxiety. In the early hours, I often saw group friends posting returns of several times or even dozens of times.
Before buying $shib, many old coin friends had already achieved A8 by holding bnb/cake or participating in DeFi mining. I had a principal of 200,000 from a loan from China Merchants Bank in 2019, which dwindled to 100,000 by 2020, and at the beginning of 2021, I peaked at 200, still far behind my group friends. At that time, I made a silent resolution: if I continued to play mainstream altcoins, I would not only fail to catch up with them but also have to pick up the pieces. I must seize the new hot spot to amaze everyone.
II. The Wheels of Fate Begin to Turn#
Looking back, this screenshot is already two and a half years old, as if it were yesterday.
On the morning of March 15, I sent this message in a small group, and the brief text carried a huge amount of information. I had already done my research on the evening of March 14, and although I cannot claim to have discovered it first in the country, no one mentioned it in WeChat search at that time. The lack of discussion led to insufficient confidence, causing me to miss the first bus. On the morning of the 15th, I saw Mr. Li @liping007 in the group discussing CX, and I decisively followed in.
Small group CX $shib
Mr. Li took the lead in buying
After verifying the on-chain records, I found that about 650 billion coins were bought that morning, worth 5.31 million U at the current price, and at the historical peak, it reached 57.43 million U. Of course, this is just a theoretical value; the actual amount received is vastly different.
On-chain purchase record
During this period, there was an episode: after Jinse Finance released news about $shib, I immediately discussed it in the group. However, due to the poor reputation of that media, group friends did not take it seriously.
Second CX $shib
After entering on March 15, I experienced a brief doubling before starting a downward trend. On April 16, a month before going on Matcha, due to the cashing-out dilemma with $fei, I was forced to sell 20,000 U at the original price, and my remaining 30,000 U position was halved to 15,000 U.
At the end of March, the entire network was in a FOMO for stablecoin $fei, and I invested about 2 million with my entire position. This led to an exceptionally torturous period for $SHIB, with no funds to operate while witnessing my group friends' coins soaring. At that time, I was prepared for a total loss, thinking that the funds earned in the bull market might vanish into thin air, which was extremely despairing. Fortunately, half a month later, things took a turn for the better.
III. The First Madness of $shib (Resignation Incident)#
On an ordinary Friday, April 16, Matcha listed $SHIB. Coincidentally, my entrepreneurial brothers came to Shenzhen for a gathering, and that weekend I stayed up all night, reminiscing while closely watching the market.
From the 16th to the 19th, it surged over twenty times, and the trapped funds from $fei became irrelevant.
It's hard to explain the composure I had while holding the coins at that time; perhaps the obsession with getting rich was too strong. I even made a wave to acquire lower chips during my clearest moments in memory.
On-chain recharge to gate.io
Here, I must praise gate.io. Although I dislike its UI interaction, its record-keeping of transactions is far superior to its peers, and the query speed is commendable.
First surge K-line
On the morning of April 19, during the Monday meeting, the leader inexplicably made a fuss:
Unjustly confronted
At that moment, my inner volcano erupted: I’m done serving! After half an hour of preaching, I calmly threw out, "I want to resign."
This sentence carried the thrill of a web novel protagonist's counterattack, but in reality, it was a long-standing grievance. Looking back now, I still feel it wasn't enough to vent; I should have directly confronted in the work group: endure for a moment and suffer a cyst, take a step back and face hyperplasia.
Resignation notice
At that time, my $shib position was about 600,000 to 700,000 U, and with the cashing out of $fei, it could reach 900,000 to 1,000,000 U.
The resignation episode was quite interesting: I quietly resigned citing "my girlfriend is in Guangzhou," and the leader tried to persuade me to stay for half a month. During team-building, we talked alone, and he kept going on and on, so I had to admit, "I made some money and want to rest." When he asked for the specific amount, I replied 7 to 8 million, and he actually said, "Buying a house in Shenzhen would wipe it out," so I didn't bother to argue.
What’s even more interesting is that a week after clearing out, this guy inquired about the coin market, and I casually mentioned, "700 turned into 2000," which finally shut him up.
IV. Clearing Moment (Zoo Carnival)#
After the pullback on April 20, the trend stabilized, which became crucial for holding coins. In the following half month, good news came frequently: community discussions surged, Musk's rocket launch triggered a frenzy, and the three major exchanges had not yet listed, creating an imaginative space. At the end of April, Xue Manzi entered the market and called for buying, and OK immediately went online.
Mr. Li fully promoted
Friends circle CX fired up
I clearly remember that on May 8, OK went online at noon. Due to a hint from platform colleagues that it would be listed at 12 o'clock, I missed the high point because I was dining out with my leader (the resignation procedures were not completed), and I missed it in the blind spot of the underground parking lot and elevator signal. This deepened my resentment towards that leader.
In the afternoon, Huobi followed suit, and I thought Binance, as the leader, would not follow quickly, so I cleared my entire position and waited for a pullback. Unexpectedly, Binance went online in less than 48 hours, and I missed half of A9.
The subsequent story is well-known: after a week of zoo carnival, the 519 avalanche came, and my story with $shib came to an end.
The three major exchanges went online consecutively
V. Experience Summary#
Large profits may seem like luck, but they are actually destiny. However, those who change their fate may seem accidental, but they actually have many prerequisites. Those who completely lie flat are difficult to save.
Dare to think and act to become rich. At that time, I was not convinced that those who started at the same point could succeed while I could not. Of course, if it weren't for luck, the story might have ended blandly.
Although destiny is heavy, effort lays the foundation. At that time, my desperate operations: staying up late researching new projects led to kidney stones, and for any project, regardless of understanding, I would first test the waters with a small amount, seizing the opportunity when similar opportunities arose.
The fighting spirit helped me surpass most of my classmates. The current market can be observed quietly, but it is essential to stay in the circle and wait for the wheels of fate to turn.
Ultimate investment is indeed risk management (position management). I suffered heavy losses in the bear market due to not being proficient in this area. In the next bull market, I must...
Finally, I wish every dreamer in the coin circle can find their own $shib.
OKX Activities This Month#
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Further Reading#
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