1. 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 sluggish market, I reflect on my journey and summarize my experiences to prepare for the next bull market.
This article is not meant to boast (after all, the money made during the hype has been lost), but to help my brothers get through the winter and look forward to a resurgence.
From late January to early February 2021, $doge skyrocketed tenfold. I regretted stopping my $doge long position when Bitcoin dropped from 40,000 to below 30,000, but I realized a truth: following Musk closely is the key to opportunity. This laid the groundwork for my subsequent entry into $shib.
That time is unforgettable. I slacked off at work during the day and struggled to sleep at night, mingling in communities to relieve anxiety. In the early hours, I often saw friends in the group flaunting their multiple returns.
Before encountering $shib, I witnessed many old coin friends upgrade to A8 through holding bnb/cake or defi mining. Meanwhile, I had borrowed 200,000 from China Merchants Bank in 2019, lost it down to 100,000 in 2020, and at the beginning of 2021, I had a maximum of 200. The disparity was stark. I knew that if I continued with mainstream altcoin strategies, not only would it be hard to catch up, but I would also become a bag holder. At that time, I yearned to seize the hot trend and make a name for myself.
2. The Gears of Fate Begin to Turn#
Looking back at this picture, it has already been two and a half years, as if it were yesterday.
On the morning of March 15, I spoke in a small group, and the brief message carried immense information. I had done my research the night before on March 14, and although I couldn't claim to be the first to discover it in the country, no one had mentioned it in WeChat searches. Due to a lack of market validation, I was not confident enough to enter. After seeing Mr. Li @liping007CX that morning, I immediately followed up.
Small group CX $shib
Mr. Li took the lead in buying
Checking the records, I bought 650 billion pieces that morning, which at the current price is equivalent to 5.31 million U, and at the historical peak, it reached 57.43 million U. Although it looked good on paper, the actual returns were vastly different.
On-chain purchase record
During this time, Jinse Finance released news about $shib (I have forgotten the content), and during the second CX, it was ignored by group friends due to the platform's credibility issues.
Second CX $shib
After establishing my position on March 15, I experienced a decline that was less than double. Before going on Matcha on April 16, I was forced to close a position of 20,000 U due to cashing out $fei, reducing my remaining position of 30,000 U to 15,000 U.
At the end of March, the entire network was fomoing into the stablecoin $fei, and I followed suit with a full investment of 2 million. The dormant period for $SHIB was particularly torturous, with no capital operations and witnessing friends in the group sharing their gains. I felt that the hard work of the bull market was about to go to waste, but fortunately, after half a month, there was a glimmer of hope.
3. The First Crazy Surge of $shib (Resignation Incident)#
On an ordinary Friday, April 16, $SHIB was listed on Matcha. Coincidentally, my entrepreneurial brothers came to Shenzhen for a gathering, and while toasting, I kept a close eye on the market, witnessing a miracle of twentyfold returns over three sleepless days.
After the surge from April 16 to 19, the locked position of $fei was no longer a concern. At that time, the obsession with getting rich was strong, yet I remained exceptionally clear-headed, even completing swing trades to acquire low-priced chips.
On-chain recharge to gate.io
Here, I must praise gate.io. Although the UI interaction is lacking, the transaction record query system far exceeds that of its peers, supporting quick retrieval of all historical data.
First surge K-line
On Monday, April 19, while communicating about work on Enterprise WeChat, I was inexplicably reprimanded by my boss:
Unjustly criticized
The repressed emotions exploded in an instant. After a half-hour lecture, I calmly told him: "I am resigning." At that moment, it felt like the protagonist of a refreshing story making a comeback, and years of grievances finally found an outlet.
Resignation letter
At that time, my position in $shib was about 600,000 to 700,000 U, and after cashing out $fei, my total assets approached one million U. The resignation incident was quite interesting: I falsely claimed I was going to Guangzhou for development, and my boss tried to persuade me to stay for half a month. During a team-building event, I candidly mentioned my profits in the crypto space, and when I mentioned 7-800W, the other party forced a smile and said, "It's not enough to buy a house in Shenzhen." A week later, when my assets appreciated to 20 million, he finally fell silent.
4. Liquidation and Exit (Crazy Zoo)#
After the pullback on April 20, the trend stabilized, compounded by the fermentation of Musk's rocket incident, Xue Manzi's calls, and the successive listings on the three major exchanges, my confidence in holding increased significantly.
On May 8, the day OKEx listed, I missed the opening high due to a dinner with my boss. Following Huobi's listing, I judged that Binance would not follow suit in the short term, so I liquidated my position, missing the Binance listing market within 48 hours, and lost the opportunity to join A9.
After that, the zoo market celebrated for a week, ultimately ending with a waterfall on May 19, marking the conclusion of my story with $shib.
The three major exchanges listed one after another
5. Experience & Summary#
Getting rich seems like luck, but it is actually fate, though changing fate requires preconditions. Those who completely give up cannot be saved by gods or Buddhas.
Daring to think and act leads to breakthroughs. Others starting from the same point can also be me; this is not hindsight. If luck is not on your side, the story will also be plain.
Fate is hard to defy, but effort lays the foundation. At that time, staying up late to study led to kidney stones, and I had to try buying every new project to accumulate knowledge and seize opportunities.
The spirit of not giving up helped me surpass most of my classmates. Holding on during the cold winter, I patiently waited for the gears of fate to turn.
The ultimate investment is risk management (position management). The painful lessons from this bear market must be refined for the next bull market.
I hope every dreamer in the crypto space can find their own $shib.
OKX Activities This Month#
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