I. Introduction#
Many friends online and offline are curious about how I have held onto $shib for a long time. 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 calm market, I reflect on this journey and summarize my experiences and viewpoints for myself and everyone as a reference for the next bull market.
This sharing is not meant to show off, as the profits from the wind have been completely lost, and there is no way to pretend otherwise. I only hope that my brothers can survive the bear market and rise again.
From late January to early February 2021, $doge surged tenfold. At that time, I had to stop-loss my $doge long position because Bitcoin dropped from 40,000 to below 30,000, which made me very frustrated. At the same time, I realized from the $doge pump that I must closely follow Musk if there is another opportunity. 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. Every midnight, group friends would showcase returns of several times or even dozens of times.
Before buying $shib, many old coin friends had reached A8 level in assets due to holding bnb/cake or participating in defi mining. I, on the other hand, 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 had only 200 of them, far behind my group friends. After comparing in my heart, I determined: if I continued to play mainstream or common altcoins, I would not be able to catch up with them and would become a bag holder. At that time, I had a strong desire to seize the hot trend and amaze everyone.
II. The Gears of Fate Begin to Turn#
Looking back, it has been two and a half years since the event in the picture, as if it were just yesterday.
On the morning of March 15, I sent this message in a small group, brief but informative. On the evening of March 14, I had already researched $shib. Although I cannot claim to be the first person in the country to discover it, no one mentioned it in WeChat search, and my confidence was insufficient to enter. After seeing the big shot @liping007 (Mr. Li) CX on the morning of the 15th, I immediately followed suit.
Small group CX $shib
Mr. Li took the lead in buying
Checking the records, the early purchase was about 650 billion pieces. The current price is 0.00000817650000000000=5.31 million U, and the highest price is 0.00008836650000000000=57.43 million U. Although the calculations are satisfying, the actual gains are far less.
On-chain purchase record
A small episode: Jinse Finance once issued a news flash about $shib (the content has been forgotten), and I CXed group friends based on that, but since the media is unreliable, the group friends ignored it.
Second CX $shib
After buying on March 15, it once surged nearly double, then fell gradually. Before the big surge on April 16 on Matcha, I was trapped by $fei and lacked funds, selling 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 all my funds. It was difficult when $SHIB did not rise: there was no money to operate, and I saw group friends showcasing skyrocketing coins. I deeply felt that funds might not be able to escape, thinking that the profits earned in the bull market would be lost, leading to extreme despair. Fortunately, half a month later, there was a glimmer of hope.
III. The First Crazy Pump of $shib (Resignation Incident)#
On Friday, April 16, Matcha listed $SHIB. Coincidentally, my entrepreneurial brother came to Shenzhen, and we had a dinner and massage to reminisce. That weekend, I couldn't sleep, chatting while keeping an eye on Matcha, not taking my eyes off it.
From the 16th to the 19th, it surged more than 20 times. It rose to the point where I no longer worried about the $fei lock-up.
I don't know why I firmly held onto $shib without selling, perhaps out of a desperate desire to get rich. My inner self was even more awake, and I could have made more money through short-term operations to acquire lower chips.
On-chain recharge to gate.io
Here I want to praise gate.io: although I don't like its UI and interaction, it only keeps records for one year, while gate.io can check all records quickly.
First surge K-line chart
On Monday, April 19, after arriving at the company around 10 o'clock to organize work on WeChat, I confirmed the process for the tasks arranged by my leader, and he replied:
Unreasonably confronted
My heart exploded: "Do as you please." After he finished, he asked me to go to the office for half an hour of chatter. When he stopped, I asked, "Are you done? I have something to say: I want to resign."
This statement felt as satisfying as a male protagonist in a web novel reversing his fate, mainly because I had endured him for a long time, and he often squeezed me.
Looking back, I still feel it wasn't harsh enough, too concerned about face, regretting not confronting him directly in the work group. It truly applies: "Enduring for a moment makes you angrier the more you think about it, taking a step back makes you feel more loss the more you think about it."
Resignation notice
At that time, the total value of $shib was about 600,000 to 700,000 U, and after cashing out $fei, it could reach 900,000 to 1 million U.
The small episode of resignation was interesting: I didn't mention making money when I proposed to resign, as I am low-key by nature, only saying that my partner is in Guangzhou and I need to return. He tried to keep me for half a month, and during team-building, he talked to me alone incessantly. I helplessly admitted that I wanted to take a break after making some money. He knew he couldn't keep me but kept asking about the amount, and when I answered that I made 7 to 8 million, he tried to save face by saying, "Buying a house in Shenzhen would be gone," and I was too lazy to argue.
The funniest part was a week later when I was about to clear out, he asked how the crypto world was, and I said my 7 to 8 million was about to turn into 20 million. Oh, he was left speechless and no longer sought to save face.
IV. Clearing Out and Leaving the Market (Crazy Zoo)#
After the pullback on April 20, it did not continue to fall but stabilized, which is the main reason I held on. If it had fallen for a long time, I would have run early. Moreover, within half a month, good news kept coming: discussions about $shib heated up, Musk's rocket launch fans went crazy with comments, and everyone believed it would rise. The three major exchanges had not listed it yet. At the end of April, Xue Manzi publicly called for it, and a few days later, OK listed it.
Mr. Li's support everywhere
Never so crazy in the circle of friends CXing a coin
I clearly remember that $shib went live on OK on May 8 at noon because an OK partner hinted it would go live at 12 o'clock, but that day 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 peak. This episode deepened my hatred for my leader.
In the afternoon, Huobi followed suit, and I thought: with two major exchanges already listed, Binance being the first, even if it goes up, it won't be fast, so I decided to clear out completely and wanted to buy back when it pulled back deeply. Unexpectedly, Binance had no shame and listed it on the 10th, missing half of A9 within 48 hours.
The subsequent events are well-known: the zoo surged for more than a week, followed by a crash on May 19. My story with $shib came to an end.
Three major exchanges went live 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 be coincidental, but there are many prerequisites. If one completely lies flat, even gods cannot save them.
To make big money, one must dare to think. At that time, I asked myself: if those who started at the same time can succeed, why can't I? It's not because I have made money that I say this; if luck were bad, my experience might have been bland.
Making big money relies on fate, but effort is the foundation. During that time, I worked extremely hard: staying up late and messing up my schedule led to kidney stones. For any new project, regardless of whether I understood it, I would buy a little, and once bought, I would research it, seizing opportunities when similar situations arose.
The key is the fighting spirit; with this, I surpassed most of my small/medium/large university classmates. In this market, everyone may not operate, but do not leave the circle; the gears of fate will eventually turn to you.
The endgame of investment is risk management (position management), which I did not learn, leading to severe losses in the bear market. I can only say that I will definitely change in the next bull market.
Finally, I wish that all those who turn around in the crypto world can buy their own $shib.
OKX Activities This Month#
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Related Reading#
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