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 just hope to survive the bear market and rally with my brothers.
From late January to early February 2021, $doge surged tenfold. I had to stop-loss my $doge long position when Bitcoin fell from 40,000 to below 30,000, which left me feeling 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 flaunt their returns of several times or even dozens of times.
Before buying $shib, many old coin friends had already entered the A8 ranks due to holding bnb/cake or participating in DeFi mining. Meanwhile, my 200,000 from a loan at China Merchants Bank in 2019 had dwindled to only 100,000 by 2020, and at the beginning of 2021, it peaked at just 200. I felt 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 end up buying their bags. 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 just yesterday.
On the morning of March 15, I sent this message in a small group, which contained a lot of information in just a few sentences. First, I had already researched on the night 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 in 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 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 pleasant calculation; the actual amount received was far less.
On-chain purchase record
The following picture is a small episode; at that time, Jinse Finance indeed released a news flash about $shib, but I have forgotten the content. After seeing it, I shared it with group friends CX, but because Jinse Finance is unreliable, the group friends ignored it.
Second CX $shib
Since buying on March 15, it rose less than double before continuously declining. From the time of purchase until a month before the huge surge on April 16 on Matcha, I was trapped by $fei and lacked funds, selling at 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 entire network was fomoing into stablecoin $fei, and I invested my entire position of about 200,000 W. Therefore, the difficult period when $SHIB did not rise was tough, as I had no funds to operate and had to endure group friends flaunting their soaring coins. At that time, I truly felt that this money might not come back, thinking about how 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 April 16, an ordinary Friday, 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, 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.
I don’t know why I was so determined not to sell $shib at that time; perhaps it was the eagerness to get rich. My mind was actually clear, and I even made some trades to acquire lower-priced chips.
On-chain recharge to gate.io
Here, I must praise gate.io; although I don’t like its UI and interaction, other exchanges only allow checking records for up to a year, while gate.io seems to allow checking all records, and the search is quick.
The K-line chart of the first surge
On Monday, April 19. After arriving at the company around 10 AM to organize work on WeChat, I confirmed the process for the tasks arranged by my leader, and he replied with this:
Unexplainably confronted
At that moment, my mind exploded; I thought, "Do whatever you want." After saying that, he wanted me to go to the office to talk, and I waited for him to ramble for half an hour before it ended. I asked, “Are you done? If you’re done, I have something to say: ‘I’m resigning.’”
Saying it felt like the thrill of a male protagonist in a web novel making a comeback, mainly because I had tolerated him for too long, and he often squeezed me.
Looking back, I didn’t do it harshly enough; I cared too much about face and regretted not confronting him directly in the work group. It truly is: enduring for a moment makes you angrier, taking a step back makes you feel more loss.
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 small episodes; when I submitted my resignation, I didn’t mention making money because of my low-key personality, only saying that my partner was in Guangzhou and I needed to go back. 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 W, he still wanted to save face, saying, “7-800 W isn’t much; it’s gone when buying a house in Shenzhen,” and 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 W was quickly turning into 2,000 W. Oh, he shut up, speechless, and no longer sought to save face.
IV. Clearing Out and Leaving (The Crazy Zoo)#
Since the pullback on April 20, it has not continued to decline but has stabilized, 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 firmly 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 it. A few days after the call, OK, one of the three major exchanges, 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, but at that time, I was out having 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 high point. This episode deepened my resentment towards my leader.
In the afternoon, Huobi followed suit and went live. I thought since both major exchanges had listed it and it surged so much, Binance, being the first exchange, wouldn’t list it quickly, so I cleared my position, hoping for a deeper pullback to buy back. 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 explosive 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 seen as 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 start at the same point and succeed while I couldn’t. Of course, I’m not saying this because I’ve made money; if luck were bad, my experience would also be 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 them, I researched them, allowing me to seize opportunities when similar projects appeared.
The key is the tenacity of not giving 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 ultimately is risk management (position management). I suffered heavy losses because I didn’t learn this during the bear market. I can only say there will definitely be another bull market.
Finally, I wish all friends who want to turn their fortunes around in the crypto world can buy their own $shib.
OKEx Activities This Month#
New users who register on OKEx this month can 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 OKEx account; some regions need to use a VPN or alternative link
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