I. Introduction#
Many friends online and offline are curious about how I hold $shib. I have shared my story with $shib multiple times with different people. 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 experience to summarize insights and perspectives for myself and others as a reference for the next bull market.
This sharing is not for bragging—I've lost all the money earned during the bull market, so there's no point in pretending. I only hope to survive the bear market and rise again with my brothers.
From late January to early February 2021, $doge surged tenfold. At that time, I stopped my $doge long position due to Bitcoin's drop from 40,000 to below 30,000, which left me feeling frustrated. The surge of $doge made me realize: if I get another chance, 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. In the early hours, I was often stimulated by friends in the group showing off their multiple or even dozens of times returns.
Before buying $shib, many old coin friends had already entered the A8 ranks 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 coins, far behind my group friends. After comparing myself, I realized: if I continued to play mainstream or common altcoins, I wouldn't be able to catch up with them and would end up being a bag holder. At that time, I had a strong desire to seize the hot spots 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 yesterday.
On the morning of March 15, I sent a message in a small group that was rich in information: on the evening of March 14, I researched $shib; although I can't claim to be the first discoverer in the country, no one mentioned it in WeChat search, and my confidence was insufficient to get in. On the morning of the 15th, I saw the big shot @liping007 (Mr. Li) in the group CX, and I immediately followed suit.
Small group CX $shib
Mr. Li led the purchase
Checking the records, that morning I bought about 650 billion coins; at the current price: 0.00000817 * 650000000000 = 5.31 million U; at the highest price of $shib: 0.00008836 * 650000000000 = 57.43 million U. Although the calculations were satisfying, the actual returns were far from it.
On-chain purchase record
A small episode: Jinse Finance once released a news flash about $shib, but I forgot the content. I asked the group friends about it, but they didn't take it seriously because Jinse Finance was unreliable.
Second CX $shib
After buying on March 15, it once surged nearly double, then immediately fell. Before the surge on April 16 on Matcha, I was trapped by $fei and, lacking funds, sold 20,000 U of $shib at the original price, leaving a position of 30,000 U. In the meantime, the 30,000 U was halved to 15,000 U.
At the end of March, the whole network was fomoing into the stablecoin $fei, and I invested about 2 million with my entire position. The torment during the period when $SHIB did not rise was unbearable: no money to operate, and I saw my friends' coins skyrocketing. I felt deeply that it was hard to get funds out, and the money I desperately earned in the bull market might go up in smoke, leading to extreme despair. Fortunately, after half a month, things began to look up.
III. The First Crazy Surge of $shib (The Resignation Incident)#
On Friday, April 16, Matcha launched $SHIB. Coincidentally, my entrepreneurial brother came to Shenzhen, and we gathered for dinner and massage to reminisce. I didn't sleep all weekend, chatting while keeping a close eye on Matcha, not taking my eyes off it.
From the 16th to the 19th, it surged more than 20 times. It rose to a point where I no longer worried about the locked position in $fei.
At that time, I firmly did not sell $shib, perhaps due to the eagerness to get rich. I was clear-headed and even made waves to acquire lower-cost chips.
On-chain recharge to gate.io
Here I want to praise gate.io: although I don't like its UI and interaction, it has only one year of trading records, while gate.io allows checking all records, and the speed is fast.
First surge K-line chart
On Monday, April 19, I arrived at the company around 10 a.m. to organize work on WeChat. The leader arranged tasks, and I asked about the process, to which he replied:
Unreasonably confronted
My heart exploded: do it if you want. After he nagged for half an hour, I asked, "Are you done? I have something to say: I quit."
Saying it felt as satisfying as a male protagonist in a web novel reversing his fate, as I had endured him for a long time.
Looking back, I still feel it wasn't ruthless enough; I cared too much about face. I regret not confronting him directly in the work group: enduring for a moment only leads to more anger, taking a step back only leads to more losses.
Resignation notice
At that time, the total value of $shib was about 600,000 to 700,000 U; combined with cashing out $fei, it could reach 900,000 to 1,000,000 U.
The resignation episode was interesting: I didn't mention making money, just said low-key that my partner needed to return to Guangzhou. He tried to persuade me for half a month, and during team-building, he talked to me alone and wouldn't stop. I could no longer bear it and frankly said I made some money and wanted to rest. He knew it was hard to keep me but pressed for the specific amount. When I replied that I made 7-800W, he tried to save face by saying, "7-800W is not much; it would be gone if you buy a house in Shenzhen," and I couldn't be bothered to argue.
The funniest part was a week later when I cleared my position; he asked how things were in the crypto world. I said 7/800W was about to turn into 20 million. He was left 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 but showed a steady trend, allowing me to hold on. If it had continued to drop, I might have already run away. In the half-month that followed, good news kept coming: discussions about $shib increased; Musk's rocket launch had fans frantically commenting in hopes of a rise; and the three major exchanges had not yet launched. At the end of April, Xue Manzi entered the market and called for action, and soon OK launched.
Mr. Li's strong promotion
First crazy CX of a coin in the friend circle
I clearly remember that $shib went live on OK on May 8 at noon: because OK partners hinted it would go live at 12 o'clock, but I was out for lunch with my leader (the resignation procedures were not completed), and the signal in the underground parking lot and elevator was poor, causing me to miss the high opening price. This episode deepened my hatred for the leader.
In the afternoon, Huobi followed suit. I thought: with two major exchanges already launched, Binance being the first, it wouldn't go up too quickly. So I cleared my position, waiting for a pullback to buy back. Unexpectedly, Binance launched on the 10th, and I missed half of A9 within 48 hours.
The subsequent events are well known: the zoo went crazy for more than a week, followed by the crash on May 19. My story with $shib came to an end.
Three major exchanges launched in two consecutive days
V. Experience & Summary#
Making big money underestimates luck, but greatly relies on fate. However, those who change their fate seem to have many prerequisites. If you completely lie flat, even gods can't save you.
To make big money, you need to dare to think: at that time, I asked myself why I couldn't act like those who started at the same time? It's not because I made money that I say this; 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 gave my all, and the irregular sleep schedule led to kidney stones. For new projects, whether I understood them or not, I bought in and then researched, seizing opportunities similar to those projects.
The key to not giving up: this allowed me to surpass most classmates. In this market, you may not operate, but don't leave the circle; the wheels of fate will eventually turn to you.
Investment ultimately comes down to risk management (position management): I did not learn this, leading to severe losses in the bear market. I must change this in the next bull market.
I hope that everyone who turns their fortunes in the crypto world encounters their own $shib.
OKEx Activities This Month#
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Related Reading#
The Latest Ranking of the Top 10 Virtual Currency Trading Platforms in China for 2025 is Out 🔥【Worth Collecting】
【Real Stories of Getting Rich in the Crypto World】Many people ask me how I went from 0 to 11 million and then to a debt of 100,000 over the years of trading coins.
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