I. Introduction#
Many friends online and offline want to know how I have held 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 reflect on this journey and extract some insights for myself and everyone to reference in the next bull market.
This short article is not meant to show off; after all, the money earned during the bull market has been lost, so there’s nothing to boast about. I only hope to survive the bear market and rally with my brothers.
From late January to early February 2021, $doge surged tenfold. I had to cut losses on my $doge long position when Bitcoin dropped from 40,000 to below 30,000, which left me deeply regretful. At the same time, I learned from the rise of $doge: if there’s another opportunity, I must closely follow Musk. This laid the groundwork for my later purchase of $shib.
Those days are destined to be unforgettable. During the day, I slacked off at work, and at night, I hardly slept, actively participating in various group chats to relieve anxiety. Every midnight, group friends would share their returns, which were several times or even dozens of times.
Before buying $shib, many old coin friends had already joined the A8 ranks due to holding bnb/cake or participating in DeFi mining. I had used 200,000 from a loan from China Merchants Bank in 2019, which dwindled to 100,000 by 2020, and at the beginning of 2021, it only reached a maximum of 200 coins, far behind my group friends. At that time, I compared myself: if I continued to play mainstream or common altcoins, I would no longer be able to catch up with them and might even end up buying their losses. I had a strong desire to seize a hot trend and amaze everyone.
II. The Gears of Fate Begin to Turn#
Looking back, it has been two and a half years since this picture, as if it were yesterday.
On the morning of March 15, I sent this message in a small group, which contained quite a bit of information in just a few sentences. First, I had researched it on the evening of March 14 and didn’t dare to claim to be the first discoverer in the country, but at that time, no one mentioned it on WeChat. Because no one mentioned it, I lacked confidence and didn’t get in that night. On the morning of the 15th, seeing other big shots in the group buying in, I followed suit. This big shot was none other than the famous Mr. Li @liping007.
Small group CX $shib
Mr. Li led the purchase
Checking the records, that morning I bought about 650 billion, which at the current price of 0.00000817650000000000 = 5.31 million USDT, and at the highest price of $shib 0.00008836650000000000 = 57.43 million USDT. Of course, this is just a calculation for fun; the actual amount received was far less.
On-chain purchase record
The following image is a small episode; at that time, Jinse Finance did indeed release a $shib news flash, but I have forgotten the content. After seeing it, I shared it with group friends, but because Jinse Finance is unreliable, the friends in the group ignored it.
Second CX $shib
Since buying on March 15, it rose less than double before continuing to decline. From the time of purchase until a month before the surge on April 16 on Matcha, I was trapped by $fei and lacked funds, selling 20,000 USDT 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 whole network was fomoing into the stablecoin $fei, and I invested about 200 million W with my entire position. Therefore, the difficult period when $SHIB did not rise was tough, as I had no funds to operate and had to endure friends in the group flaunting their soaring coins. At that time, I truly felt that this money might not come back, thinking that the money earned in the bull market would just disappear, which was incredibly despairing. Fortunately, half a month later, things took a turn for the better.
III. The First Crazy Surge of $shib (Resignation Incident)#
On an ordinary Friday, April 16, Matcha listed $SHIB, coinciding with a good brother from my startup coming to Shenzhen, and we had dinner and a massage reminiscing about the past. That weekend, I didn’t sleep at all, boasting while keeping a close 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 cared about my entire locked position in $fei.
For some reason, I was determined not to sell $shib at that time, perhaps because I was eager to get rich. My mind was surprisingly clear, and I even made a wave to acquire lower-priced chips.
On-chain recharge to gate.io
Here I want to praise gate.io; although I dislike its UI and interaction, other exchanges can only check records for a year at most, while gate.io seems to be able to check all records quickly.
First surge K-line chart
On Monday, April 19, I arrived at the company around 10 AM to organize work on WeChat. After confirming the process for the tasks arranged by my boss, he replied with this:
Unreasonably confronted
At that moment, my mind exploded; I thought, "Do what you want." After he finished, he wanted me to go to the office to talk, and after half an hour of his rambling, I asked, "Are you done? If you are done, I have something to say: 'I want to resign.'"
Saying it felt like the thrill of a male protagonist in a web novel making a comeback, mainly because I had endured him for too long, and he often squeezed me.
Looking back, I didn’t do it harshly enough; I was too concerned about face-saving and regretted not confronting him directly in the work group. It’s true: enduring for a moment makes you angrier the more you think about it, and taking a step back makes you feel like you’ve lost more.
Resignation notice
At that time, my total value of $shib was about 600,000 to 700,000 USDT, plus the trapped portion of $fei, I could withdraw about 900,000 to 1,000,000 USDT.
The resignation process had some interesting episodes; when I submitted my resignation, I didn’t mention making money because of my low-key personality, only saying that my partner needed to return to Guangzhou. This guy tried to keep me for half a month, and during a team-building event, he talked to me alone and kept trying to persuade me to stay. I couldn’t help but say I made some money and wanted to rest. He knew he couldn’t keep me but insisted on asking how much I made. When I replied 7-800 million W, he still wanted to save face, saying, "7-800 million W is not much; it would be gone if you buy a house in Shenzhen." I couldn’t be bothered to argue.
The funniest part was that a week later, after I had cleared my position, he asked me how things were in the crypto world. I said the previous 7-800 million had quickly turned into 2 billion. Oh, he shut up, speechless, and no longer sought to save face.
IV. Clearing the Position and Exiting (The Crazy Zoo)#
After the pullback on April 20, it did not continue to decline and showed a relatively stable trend, which allowed me to hold on. If it had declined for too long, I might have run away earlier. In just half a month, good news kept coming. More and more people discussed $shib, Musk launched rockets, and fans left crazy comments, all believing it could rise further. At that time, the three major exchanges had not yet listed it. At the end of April, Xue Manzi publicly called for buying in. A few days after the call, the three major exchanges, including OK, listed it.
Mr. Li was supportive everywhere
Never so crazy, CX a coin in the circle of friends
I clearly remember that $shib went live on OK at noon on May 8, as the OK partners hinted it would go live at 12 PM. However, at that time, I was out for lunch with my boss (the resignation procedures were not completed), and I missed the opening due to poor signal in the underground parking lot and elevator. This episode deepened my resentment towards my boss.
In the afternoon, Huobi followed suit and went live. I thought both major exchanges had listed it and surged so much; as the first exchange, Binance wouldn’t be quick to list it, so I cleared my position, hoping to buy back when it retraced. Unexpectedly, Binance listed it on the 10th, and within 48 hours, I missed half of A9.
The subsequent story is well-known; the zoo went crazy for more than a week, culminating in the explosion of 519. My story with $shib comes to a temporary end.
Three major exchanges went live for two consecutive days
V. Experience & Summary#
Making big money is often attributed to luck, while making it big is said to be fate. However, those who can change their fate seem to have many prerequisites. If you completely give up and lie flat, even gods cannot save you.
To make big money, you need to dare to dream. At that time, I wondered why others could succeed when we started at the same point. Of course, I’m not saying this because I’ve made money; if luck had been against me, my experience would have been bland.
Making big money relies on fate, but effort is the foundation. During that time, I truly fought hard, even causing kidney stones due to staying up late and disrupting my schedule. I bought into various new projects regardless of whether I understood them, and once I bought, I would study them, allowing me to seize opportunities when similar projects appeared.
The key is the determination not to give up; I surpassed most of my elementary/middle/high school classmates because of this. Especially in this market, while everyone may not operate, don’t leave the circle; the gears of fate will eventually turn towards you.
Investment is ultimately risk management (position management). I suffered heavy losses because I didn’t learn this during the bear market. I can only say that the next bull market is certain.
Finally, I wish all friends who want to turn their fortunes in the crypto world can buy their own $shib.
OKX Activities This Month#
New users who register on OKX this month will receive a blind box or Dogecoin gift package. You can register directly in China: Click here to jump to the official website to register an OKX account; some regions may require a VPN or alternative link
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