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 views for myself and everyone as a reference for the next bull market.
This sharing is not meant to boast; I have lost all the profits made during the bull market and have nothing to show off. I only hope that my brothers can endure the bear market and rise again.
From late January to early February 2021, $doge skyrocketed tenfold. At that time, I had to stop loss on my $doge long position because Bitcoin fell from 40,000 to below 30,000, which left me very frustrated. At the same time, I realized from the $doge pump that I must closely follow Musk if given another chance. This laid the groundwork for my later investment in $shib.
That period 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 show off their several times or even dozens of times returns.
Before buying $shib, many old coin friends had reached A8 level assets due to holding bnb/cake or participating in defi mining. Meanwhile, I had lost my 200,000 loan from China Merchants Bank in 2019 down to 100,000 in 2020, and at the beginning of 2021, I only had a maximum of 200 coins, far behind my group friends. After comparing in my heart, I concluded: if I continued to play mainstream or common altcoins, I would not be able to catch up with them and would instead 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 events 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, and although I couldn't 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 invest. 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 coins. 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 records
A small episode: Jinse Finance once released a news flash about $shib (the content has been forgotten), and I CXed my 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 rose nearly double, then fell gradually. Before the surge on April 16 on the Matcha platform, I was stuck with $fei and lacked funds, selling 20,000 U worth 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 entire network was fomoing into the stablecoin $fei, and I invested about 2 million with all my funds. It was tough when $SHIB did not rise: I had no money to operate, yet I saw group friends flaunting their soaring coins. I deeply felt that I might not be able to extricate myself from the funds and thought that the hard-earned profits in the bull market would be lost, leading to extreme despair. Fortunately, after half a month, things took a turn for the better.
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 reminisced over dinner and massages. 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 over 20 times. It rose to a 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 awake, and I could have made more money with lower-cost operations.
On-chain recharge to gate.io
Here I want to praise gate.io: although I don't like its UI and interaction, it keeps records for only one year, while gate.io allows checking all records quickly.
First surge candlestick chart
On Monday, April 19, I arrived at the company around 10 a.m. to organize work via enterprise WeChat. After confirming the process for the tasks assigned by my boss, he replied:
Unreasonably confronted
My heart exploded: "Do as you please." After he finished, he even called me to the office to chat for half an hour. 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 too long, and he often squeezed me.
Looking back, I still feel I wasn't harsh enough, too concerned about face-saving, and regret not confronting him directly in the work group. It truly reflects: if you endure for a moment, the more you think about it, the angrier you get; if you take a step back, the more you think about it, the more you lose.
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 1,000,000 U.
The small episode of my resignation was interesting: I didn't mention making money when I brought up my resignation, as I am low-key by nature, only saying that my partner is in Guangzhou and I need to go back. He tried to keep me for half a month, and during team-building, he talked to me alone endlessly. I helplessly admitted that I wanted to make some money and take a break. He knew he couldn't keep me but kept asking about the amount, and when I replied that I made 7 to 8 million, he tried to save face by saying, "Buying a house in Shenzhen would wipe it out," and I was too lazy to argue.
The funniest part was a week later when I was almost fully cashed out, he asked how things were in the crypto world, and I said 7 to 8 million was about to become 20 million. Oh, he was left speechless and no longer sought to save face.
IV. Cashing Out (Crazy Zoo)#
After the pullback on April 20, it did not continue to decline 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 investment, and a few days later, OK listed it.
Mr. Li's support from all sides
Never seen such craziness in the circle
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 boss (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 boss.
In the afternoon, Huobi followed suit, and I thought: with two major exchanges listed, the price would rise, and since Binance was the first exchange, even if it went up, it wouldn't be fast, so I decided to cash out completely and hoped to buy back when it dipped. Unexpectedly, Binance was unscrupulous and listed it on the 10th, causing me to miss 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 is often underestimated as luck, but it is largely determined by fate. However, those who change their fate seem to have many prerequisites. If you completely lie flat, even the gods can't save you.
To make big money, you need to dare to think big. At that time, I asked myself: if others who started at the same time can do it, why can't I? It's not just because I made money; if luck were bad, my experience might have been plain.
Making big money relies on fate, but hard work is fundamental. During that time, I pushed myself to the limit: staying up late and messing up my schedule led to kidney stones. For any new project, whether I understood it or not, I would buy a little, and once I bought it, I would research it, seizing opportunities when similar situations arose.
The key is the determination not to give up, which allowed me to surpass most of my classmates from small, medium, and large universities. In this market, everyone may not operate, but don't leave the circle; the gears of fate will eventually turn to you.
The end goal of investing 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 everyone in the crypto world who has turned their fortunes around can purchase their own $shib.
OKX Activities This Month#
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