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 show off, as the profits made during the bull market have all been lost, and there is no way to pretend otherwise. I only hope that my brothers and I can survive the bear market and rise again.
From late January to early February 2021, $doge skyrocketed tenfold. At that time, I had to stop-loss my $doge long position due to Bitcoin's drop from 40,000 to below 30,000, which left me very frustrated. At the same time, I learned from the $doge pump: if there is 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. Every midnight, group friends would show off their multiple or even dozens of times returns.
Before buying $shib, many old coin friends had reached A8 level assets due to holding bnb/cake or participating in defi mining. Meanwhile, I had used a 200,000 loan from China Merchants Bank in 2019, which had dwindled to 100,000 by 2020, and at the beginning of 2021, I had only 200 of them, far behind my group friends. After comparing in my heart, I concluded: if I continued to play mainstream or common altcoins, I would not be able to catch up with them and would instead become a bag holder. 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 just yesterday.
On the morning of March 15, I sent this message in a small group, brief yet informative. On the evening of March 14, I had already researched $shib, and although I couldn't claim to be the first person in the country to discover it, no one had mentioned it in WeChat search, so I lacked confidence and did not 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 purchase
Checking the records, the early purchase was about 650 billion pieces. 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 record
A small episode: Jinse Finance once released a news alert about $shib (the content has been forgotten), and I CXed my group friends based on that, but since the media was unreliable, the friends ignored it.
Second CX $shib
After buying on March 15, it rose nearly double, then fell gradually. Before the big surge on April 16 at 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 halved to 15,000 U.
By the end of March, the entire network was fomoing into 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, yet I saw group friends flaunting their coins soaring. I deeply felt that my funds might not be able to escape, thinking that the profits earned in the bull market would be lost, which was extremely despairing. 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, 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. It rose to a point where I no longer worried about the $fei lock-up.
I don't know why I firmly held onto $shib without selling, perhaps out of a strong desire to get rich. My inner self was even more awake, and I could have made more money through short-term trading for lower entry points.
On-chain recharge to gate.io
Here I want to praise gate.io: although I don't like its UI and interaction, it only retains records for one year, while gate.io allows checking all records quickly.
First surge K-line chart
On Monday, April 19, after arriving at the company around 10 a.m. to organize work on WeChat, I confirmed the process for the tasks arranged by my leader, and he replied:
Unreasonably confronted
My heart exploded: do as you please. 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 too long, and he often squeezed me.
Looking back, I still feel it wasn't harsh enough; I was too concerned 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 loss.
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 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 to return to 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 make some money and rest. He knew he couldn't keep me but kept asking 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 coin circle was doing, 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. Clearing Out and Leaving (Crazy Zoo)#
After the pullback on April 20, it did not continue to decline and stabilized, which is the main reason I held on. If it had continued to drop, I would have run early. Moreover, within half a month, good news kept coming: discussions about $shib heated up, Musk's rocket launch fans went crazy with 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 so crazy, CXing a coin in the circle of friends
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 followed suit, and I thought: with two major exchanges listed, the first exchange was Binance, and even if it went up, it wouldn't be fast, so I decided to clear out completely and hoped to buy back when it pulled back deeply. Unexpectedly, Binance was unscrupulous and listed it on the 10th, and I missed half of A9 within 48 hours.
The rest is 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 for two consecutive days
V. Experience & Summary#
Making big money is partly luck, but largely destiny. However, those who change their fate seem to be coincidental, but there are many prerequisites. If you completely lay flat, even gods can't save you.
To make big money, you need to dare to dream. At that time, I asked myself: if others who started at the same time can do it, why can't I? It's not just because I made money; 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 pushed myself to the limit: staying up late and messing up my schedule 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 gears 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 coin circle can buy their own $shib.
OKX Activities This Month#
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Related Reading#
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