I. Introduction#
Many friends online and offline are curious about my journey holding $shib. I have shared this experience multiple times with different groups. Last year, due to continuous losses, I was not in the mood to organize my thoughts. Now, taking advantage of the market's downturn, I have decided to review this story and summarize the experiences and reflections that may serve as a reference for the next bull market.
This article is by no means a bragging post—money earned from trends has long been given back, and any pretentious capital has vanished. I only wish to share this bear market winter with my brothers and quietly await the day of resurgence.
From late January to early February 2021, $doge experienced a tenfold surge. At that time, I was forced to stop-loss my $doge long position due to Bitcoin's drop from 40,000 to below 30,000, and I regretted it deeply. However, I learned a key lesson: if another opportunity arises, I must closely follow Elon Musk's movements. This laid the groundwork for my subsequent investment in $shib.
The memories of those days and nights are still fresh: working during the day and tossing and turning at night, mingling in communities to relieve anxiety. In the early hours, group friends would frequently share screenshots of returns multiplying several times, which was exhilarating.
Before entering $shib, many veteran coin friends had already joined the A8 ranks by holding bnb/cake or participating in DeFi mining. In contrast, I had entered the market in 2019 with a 200,000 loan from China Merchants Bank, which shrank to 100,000 in 2020, and at the peak in early 2021, I only had 200. The disparity was stark. At that time, I resolved: if I continued to follow mainstream altcoins, not only would it be hard to catch up, but I might also become a bag holder. The desire to seize the spotlight and make a name for myself grew wildly within me.
II. The Gears of Fate Begin to Turn#
Looking back at this screenshot, it has already been over two and a half years, as if yesterday has reappeared.
On the morning of March 15, I posted this analysis in a small group, with a few words packed with high information density. It should be noted that on the evening of March 14, I had conducted in-depth research. Although I wouldn't dare to claim I was the first to discover it domestically, there was indeed no related discussion found on WeChat at that time. Due to the lack of market enthusiasm and insufficient confidence, I did not dare to build a position that night. The next morning, seeing the big shot @liping007, Mr. Li, calling for a buy in the group, I decisively followed suit.
Small group CX $shib
Mr. Li took the lead in buying
Checking the on-chain records, a total of 650 billion coins were bought that morning, which, at the current price, is about 5.31 million U. If calculated at the historical peak, it would reach as high as 57.43 million U. Of course, this is just a theoretical value; the actual returns were vastly different.
On-chain purchase records
During this time, there was an interlude: Jinse Finance had released news related to $shib (the specific content has been forgotten), and I used this to call for a second buy in the group. However, the media's credibility was lacking, and everyone paid little attention.
Second CX $shib
Since building my position on March 15, $shib briefly doubled and then began to decline. On April 16, during the torturous period before it was listed on the exchange, I was forced to sell a 20,000 U position at cost due to the need to cash out $fei, and my remaining 30,000 U position was once halved to 15,000 U.
By the end of March, the entire network fell into a frenzy over the $fei stablecoin, and I bet nearly 2 million with all my funds. This made the dormant period for $shib exceptionally difficult: there were no funds to operate, and I witnessed my group friends' coins rising one after another. At that time, I deeply felt that my investment might lead to total loss, thinking that the hard work of the bull market might go to waste, and despair spread. Fortunately, a turning point came half a month later.
III. The First Crazy Surge of $shib (The Resignation Incident)#
On Friday, April 16, $shib was listed on the exchange. Coincidentally, my entrepreneurial partners came to Shenzhen to gather, and we reminisced over drinks. That weekend, I couldn't sleep all night, chatting with my brothers while closely watching the market, afraid of missing any fleeting fluctuations.
From April 16 to 19, $shib surged violently by over 20 times. The magnitude of the surge made me ignore the liquidity issues of $fei.
Reflecting on my mindset at that time, the determination to hold my position may have stemmed from the obsession with getting rich. I remember being exceptionally clear-headed, even completing segment trades to acquire lower-cost chips.
On-chain recharge to gate.io
Here, I must praise gate.io: although I dislike its UI interaction, compared to other exchanges that only retain a year of trading records, gate.io allows for complete historical data retrieval and is quick to search.
First surge K-line chart
On the morning of April 19, during the meeting, the leader threw out this reply while assigning work:
Unexplainably criticized
This instantly ignited pent-up emotions, and I immediately felt like resigning. After half an hour of lecturing, I calmly dropped the bomb: "I want to resign."
At that moment, the experience was comparable to the male protagonist's counterattack in a cultivation novel, mainly stemming from the release of long-term workplace oppression. Looking back now, I still feel it wasn't enough to vent my frustrations; not publicly countering in the work group is a regret—enduring for a moment leads to cysts, taking a step back leads to hyperplasia.
Resignation notice
At that time, my $shib position was worth about 600,000 to 700,000 U, combined with the funds from cashing out $fei, my total assets were nearly 1 million U.
The resignation incident was quite dramatic: I didn't reveal the real reason for my departure, only using "going to Guangzhou for a reunion" as an excuse. The leader tried hard to retain me over the next two weeks, even having private talks during team-building to persuade me to stay. Ultimately, I had to admit to "small profits for adjustment," and when they asked for the specific amount, I reported a figure of 7 to 8 million. The other party forced a smile: "This amount of money is gone when buying a house in Shenzhen," and I smiled without replying.
Ironically, a week later, when I completed my liquidation, that leader inquired again about the cryptocurrency market. I casually mentioned, "800 turned into 2000," finally leaving them speechless.
IV. Liquidation and Exit (The Crazy Zoo)#
After a pullback on April 20, the $shib trend stabilized, which became key to maintaining my position—if it continued to decline, it would be hard to hold on. During this time, positive news emerged: community discussions heated up, Elon Musk's rocket launch triggered fan excitement, and the three major exchanges delayed listing, creating a space for imagination. At the end of April, Xue Manzi made a high-profile entry, and OKEx subsequently announced its listing.
Mr. Li continued to empower
Friends circle CX fired up
I clearly remember the scene on May 8 when $shib was listed on OKEx: I received an internal hint that it would be listed at 12 o'clock, but due to dining out with my leader (resignation procedures not yet completed), I lost signal in the underground parking lot and elevator, missing the opening high point. This incident deepened my resentment towards that leader.
In the afternoon, Huobi quickly followed suit. At that time, I judged that Binance, as a leading exchange, would not list immediately, so I chose to liquidate and wait, planning to buy back after a deep pullback. Unexpectedly, Binance listed within 48 hours, perfectly missing half of the A9 opportunity.
The subsequent story is well-known: after a week of frenzy over the zoo concept, the anticipated crash on May 19 occurred, marking the end of my legend with $shib.
The three major exchanges listed in succession
V. Experience & Summary#
Getting rich is essentially a low-probability event, but there is a necessary logic behind fate and metaphysics. Those who completely lie flat cannot be saved by even the gods.
Daring to think and act is the premise. Initially, seeing contemporaries far ahead, the unwillingness to lag behind became a driving force. Even if the final result is mediocre, this spirit is indispensable.
Wealth is predetermined, and effort lays the foundation. During that time, I researched new projects day and night, and my health raised red flags (staying up late led to kidney stones). But it was this wide-net exploration that cultivated market sensitivity.
An unyielding spirit helped me surpass most of my peers. In the current market, I suggest maintaining industry awareness—the wheel of fate will eventually turn in your favor.
The ultimate topic of investment is risk management (position allocation). The painful lessons from this bear market will undoubtedly become strategic reserves for the next bull market.
May every coin friend with a dream of counterattack encounter their own $shib.
OKX Activities This Month#
New users can enjoy a blind box or Dogecoin gift pack, supporting direct registration: Click to go to the official website or Alternative link
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