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 boast; after all, the money earned during the bull market has been lost, so there is nothing to brag about. I just hope to survive the bear market and regroup 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 deeply regretful. At the same time, I realized from the rise of $doge that if there was 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 show off 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, I had seen my 200,000 loan from China Merchants Bank in 2019 dwindle to only 100,000 in 2020, and at the beginning of 2021, it peaked at only 200. I felt far behind my group friends. At that time, I compared myself internally: if I continued to play mainstream or common altcoins, I would not be able to catch up with them and might end up taking their losses. I strongly desired 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 was taken, as if it were just 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 already researched on the evening of March 14 and did not 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 did not 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 straightforward calculation; the actual amount received was far less.
On-chain purchase record
The following picture is a small episode; at that time, Jinse Finance did indeed release a news flash about $shib, but I have forgotten the content. After seeing it, I shared it with group friends, but because Jinse Finance is not reliable, the friends in the group did not take it seriously and 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 huge surge on April 16 on Matcha, I was trapped by $fei and lacked funds, selling out at 20,000 USDT at the original price, leaving a position of 30,000 USDT. During this period, the 30,000 USDT was cut down to 15,000 USDT.
At the end of March, the entire network was fomo-ing into the stablecoin $fei, and I invested my entire position of about 200,000 W. Therefore, the period when $SHIB did not rise was difficult to endure, as there were no funds to operate, and I had to endure friends in the group showing off 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 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 while reminiscing about the past. That weekend, I did not sleep, boasting 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 cared about my entire locked position in $fei.
For some unknown reason, I was determined not to sell $shib at that time, perhaps because I was eager 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 do not 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.
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 assigned by my leader, he replied with this:
Unexplainably confronted
At that moment, my mind exploded; I thought, "Do whatever you want." After he finished, 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 want to resign.'"
Saying it felt like the exhilarating moment of a male protagonist in a web novel turning the tables, mainly because I had endured him for too long, as he often squeezed me.
Looking back, I feel I wasn't ruthless enough and cared too much about face. I regret not confronting him directly in the work group. Truly, it is: "Enduring for a moment makes you angrier the more you think about it; taking a step back makes you feel like you lost more."
Resignation notice
At that time, my total value in $shib was about 600,000 to 700,000 USDT, plus the trapped portion of $fei, which could total 900,000 to 1,000,000 USDT.
The resignation process had some interesting episodes. When I submitted my resignation, I did not mention making money, as I am low-key by nature, only saying that my partner is in Guangzhou and I need to go back. This guy tried to persuade me to stay for half a month, and during a team-building event, he had a private conversation with me, still trying to persuade me. I couldn't help but say I made some money and wanted to take a break. He knew he couldn't persuade me but insisted on asking how much I made. When I replied 700,000 to 800,000 W, he still wanted to save face, saying, "700,000 to 800,000 W is not much; it would be gone if you bought a house in Shenzhen." I couldn't be bothered to argue.
The funniest part was that a week later, after I had completely liquidated my position, he asked me how things were in the crypto world. I said the previous 700,000 to 800,000 had quickly turned into 2 million. Oh, he shut up, speechless, and no longer sought to save face.
IV. Liquidation and Exit (Crazy Zoo)#
Since the pullback on April 20, there has been no continuous decline; the trend has been relatively stable, 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's rocket launch fans were leaving crazy comments, and everyone firmly believed 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 his 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 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 hatred for my leader.
In the afternoon, Huobi followed suit and went live. I thought that since both major exchanges had listed it and it had surged so much, Binance, as the first exchange, would not list it quickly. So, I liquidated my entire position, hoping to buy back when it pulled back deeply. Unexpectedly, Binance listed on the 10th, and I missed half of A9 in less than 48 hours.
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 close.
Three major exchanges went live for two consecutive days
V. Experience & Summary#
Making big money is often said to be luck, and on a larger scale, it is fate. But those who can change their fate seem to do so by chance, yet there are many prerequisites. If you completely give up and lie flat, even the gods cannot save you.
To make big money, you need to dare to think. At that time, I wondered why others could succeed when starting from the same point. Of course, I am not saying this because I have made money; if luck were against me, my experience would also be bland.
Making big money relies on fate, but effort is the foundation. During that time, I truly worked hard, even to the point of developing 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 would research them, allowing me to seize opportunities when similar projects appeared.
The key is the tenacity 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, do not 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 did not 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 registering on OKX this month can receive a blind box or Dogecoin gift package. You can register directly in China: Click here –> Jump to the official website to register for an OKX account, some regions need to use a VPN or alternative link
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