I. Introduction#
Many friends online and offline are curious about how I managed to hold $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, but now, taking advantage of the sluggish market, I reflect on the 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 share with my brothers as we weather the winter together, hoping for a resurgence.
From late January to early February 2021, $doge surged tenfold. I regretted stopping my $doge long position after 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 later entry into $shib.
That period is unforgettable. During the day, I slacked off at work, and at night, I struggled to sleep, mingling in communities to ease my anxiety. In the early morning, I often saw friends in the group sharing 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 taken a loan of 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 coins, a stark contrast. 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.
II. 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 just 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 of March 14, and although I couldn't claim to be the first to discover it domestically, no one had mentioned it in WeChat searches. Due to a lack of market validation, I lacked the confidence to enter. After seeing Mr. Li @liping007CX on the morning of the 15th, I immediately followed up.
Small group CX $shib
Mr. Li took the lead in buying
Checking the records, I bought 650 billion coins that morning, which at the current price equates to 5.31 million USD, and at the historical peak, it reached 57.43 million USD. Although it was paper wealth, the actual amount in hand was vastly different.
On-chain purchase record
During this time, Golden Finance released news about $shib (the content has been forgotten), 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 before it doubled. On April 16, before going on the exchange, I was forced to close a position of 20,000 USD due to cashing out $fei, reducing my remaining position of 30,000 USD to 15,000 USD.
At the end of March, the entire network was in a FOMO for stablecoin $fei, and I followed suit with a full position of 2 million. The dormant period of $SHIB was particularly torturous, with no capital operations and witnessing friends in the group sharing their gains. I once 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.
III. The First Crazy Surge of $shib (Resignation Incident)#
On an ordinary Friday, April 16, $SHIB was listed on the exchange. Coincidentally, my entrepreneurial brothers were gathering in Shenzhen, and while we toasted, we closely monitored the market, witnessing a miraculous 20-fold increase 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 wave operations 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 candlestick
On Monday, April 19, while communicating at work via enterprise WeChat, I was inexplicably reprimanded by my boss:
Unjustly criticized
The suppressed emotions erupted instantly. After half an hour of being lectured, I calmly informed, "I am resigning." At that moment, it felt like the protagonist of a 爽文 (a type of Chinese fiction) making a comeback, as years of grievances finally found an outlet.
Resignation letter
At that time, my position in $shib was about 600,000 to 700,000 USD, and after cashing out $fei, my total assets approached 1 million USD. 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 world, and when I referred to 7-800W, the other party awkwardly insisted, "It's not enough to buy a house in Shenzhen." A week later, when my assets appreciated to 20 million, they fell silent.
IV. Liquidation and Exit (The Crazy Zoo)#
After the pullback on April 20, the trend stabilized, coupled with 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 leadership dinner. 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 trend 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 in succession
V. Experience & Summary#
Getting rich seems like luck but is actually fate, yet changing one's fate requires preconditions. Those who completely give up cannot be saved by gods or Buddhas.
Daring to think and act is the key to breakthroughs. Others starting from the same point can also surpass me; this is not hindsight wisdom, as a lack of fortune would lead to a mundane story.
Destiny is hard to defy, but effort lays the foundation. During that time, staying up late studying led to kidney stones, and I must 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 firm during the winter, I await 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.
May every dreamer in the crypto world find their own $shib.
OKX Activities This Month#
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