The legendary cryptocurrency wealth journey of SHIB: turning 30,000 U into 2.6 million U in 52 days.

I. Introduction#

Many friends online and offline are curious about how I have steadfastly 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 will review this journey and summarize experiences that can serve as references for the next bull market.

This article is by no means a boast (after all, the profits from the hype have mostly been given back), but I hope to share this winter with you all and patiently await a resurgence.

From late January to early February 2021, $doge experienced a tenfold surge. At that time, I regretted stopping my $doge long position due to Bitcoin's drop from 40,000 to below 30,000, but I realized a key insight: closely follow Elon Musk's movements. This laid the groundwork for my subsequent $shib investments.

That period was unforgettable. During the day, I slacked off at work, and at night, I struggled to sleep, mingling in communities to relieve anxiety. In the early hours, I witnessed friends in the group posting returns of several times or even dozens of times.

Before purchasing $shib, I saw many veteran players achieving A8 leaps by holding onto bnb/cake or participating in DeFi mining. Meanwhile, I had a principal of 200,000 from a loan with China Merchants Bank in 2019, which shrank to 100,000 in 2020, but peaked at 2 million in early 2021, still falling short compared to my friends. At that time, I clearly recognized: if I continued to operate with mainstream coins and regular altcoins, not only would it be difficult to catch up, but I might also become a bag holder. The strong desire to seize the hot trends and achieve a turnaround grew increasingly intense.

II. Turning Point#

Looking back at this screenshot, it has already been two and a half years, as if it were yesterday.

On the morning of March 15, I sent this message in a small group, and the brief text carried immense information. On the night of March 14, I had already deeply researched $shib. Although I cannot claim to be the first gold digger in the country, at that time, I found no discussions in WeChat search and lacked confidence to enter the market. On the morning of the 15th, after seeing Mr. Li @liping007 preach, I decisively followed suit.

Community's first recommendation for $shib

Mr. Li's lead investment record

According to on-chain data, I purchased about 650 billion coins that morning, which is now valued at 5.31 million U, and based on historical peaks, it reached 57.43 million U. Although it looks good on paper, the actual profits are far from it.

On-chain transaction proof

An interlude: After Jinse Finance released news about $shib, I forwarded it to the community but was ignored by friends due to the platform's credibility issues.

Second promotion for $shib

After building my position on March 15, I experienced a brief doubling before a continuous decline. Before the launch on April 16, I was forced to close a position of 20,000 U due to cashing out $fei, and my remaining 30,000 U position was halved to 15,000 U.

At the end of March, the entire network was fervently chasing the stablecoin $fei, and I invested all my funds of 2 million. The period of $SHIB's sideways movement was exceptionally torturous: with funds frozen and friends posting their gains and losses, I was nearly in despair. Fortunately, a turning point arrived half a month later.

III. First Round of Explosive Growth (Job Resignation Incident)#

On an ordinary Friday, April 16, $SHIB was launched on the exchange. Coincidentally, my entrepreneurial partner came to Shenzhen for a meeting, and that weekend, I stayed up all night, closely watching the market while socializing.

From the 16th to the 19th, there was a more than twentyfold surge, and the funds trapped in $fei were no longer a concern.

At that time, my determination to hold onto $shib stemmed from a strong obsession with getting rich quickly, and during this period, I even executed precise trades to acquire low-priced chips.

On-chain recharge to gate.io

I particularly want to commend gate.io. Although the UI interaction is lacking, its complete transaction record query function far exceeds that of its peers.

First round of explosive growth K-line

On Monday, April 19, while communicating at work via WeChat, I was suddenly scolded unreasonably by my boss:

Sudden workplace conflict

The suppressed emotions erupted instantly: "I want to resign!" At that moment, it felt like the protagonist of a refreshing story making a comeback, with long-held grievances finally being released.

Resignation application

At that time, my $shib holdings were about 600,000 to 700,000 U, and combined with the funds from cashing out $fei, it could reach 900,000 to 1 million U.

Interlude of resignation: I falsely claimed to be going to Guangzhou for development, and my boss tried to keep me for half a month. During a team-building event, I candidly mentioned making profits in the crypto space, and when I stated the earnings of 7 to 8 million, the other party forced a smile and said, "Buying a house in Shenzhen would exhaust it all." A week later, when my holdings appreciated to 20 million, he fell silent.

IV. Perfect Conclusion (Zoo Carnival)#

After a pullback on April 20, the trend stabilized, coupled with multiple positive factors: community discussions heated up, Elon Musk's rocket launch sparked fan excitement, and the three major exchanges had not yet launched. At the end of April, Xue Manzi entered the market and called for action, with OKEx being the first to launch.

Mr. Li's strong promotion

Unprecedented promotion in WeChat Moments

I clearly remember that on May 8, OKEx launched during the midday session, and I missed the peak sale due to dining with my boss (resignation procedures were not completed). That day, Huobi followed suit, and judging that Binance would not follow quickly, I liquidated my position, not expecting Binance to launch within 48 hours, missing the A9 opportunity.

The subsequent story is well-known: after a week of carnival in the zoo market, the epic crash of 519 arrived. My legend with $shib came to an end.

The three major exchanges launched consecutively

V. Lessons Learned#

The enormous profits seem to be a matter of luck, but they are actually a combination of timing, location, and human factors. Those who completely lie flat are unlikely to encounter opportunities.

To get rich, one must dare to think and act. The differences among players during the same period sparked competitive spirit; although success and failure involve luck, only by daring to be the first can there be a possibility of breaking through.

Fate is hard to defy; one must work hard to build a foundation. At that time, I researched new projects day and night, sacrificing my health for cognitive improvement, laying the groundwork for future opportunities.

The tenacity of never giving up helped me achieve a leap in social class. During the bear market's dormant period, it is especially necessary to remain in the market, patiently waiting for the wheels of fate to turn.

The ultimate topic is risk management (position control). The painful lessons from this bear market must be remembered in the next bull market.

May every dreamer in the crypto space capture their own $shib.

OKX Activities This Month#

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