I. Introduction#
Many friends online and offline are curious about how I hold $shib. I have shared my story with $shib multiple times with different people. 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 experience and summarize my insights and opinions for myself and everyone to reference in the next bull market.
This sharing is not to show off—I've lost all the money I made during the bull market, so there's no point in pretending. I just hope to survive the bear market and rise again with my brothers.
From late January to early February 2021, $doge surged tenfold. At that time, I had to stop-loss my $doge long position due to Bitcoin's drop from 40,000 to below 30,000, which left me very frustrated. The surge of $doge made me realize: if I get another chance, I must follow Musk closely. This laid the groundwork for my later investment in $shib.
That time was unforgettable: I slacked off at work during the day and barely slept at night, actively participating in various groups to relieve anxiety. In the early morning, I was often stimulated by friends in the group showing off their multiple or even dozens of times returns.
Before buying $shib, many old coin friends had already entered the A8 ranks by holding bnb/cake or participating in DeFi mining. Meanwhile, I 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 only had 200 of them, far behind my friends in the group. After comparing myself to them, I realized: if I continued to play mainstream or common altcoins, I would not be able to catch up with them and would only become a bag holder. At that time, I had a strong desire to seize the hot trend and amaze everyone.
II. The Wheels 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 yesterday.
On the morning of March 15, I sent a message in a small group, which was rich in information: on the evening of March 14, I researched $shib. Although I can't claim to be the first discoverer in the country, no one mentioned it in WeChat search, and lacking confidence, I did not invest. On the morning of the 15th, I saw the big shot @liping007 (Mr. Li) discussing it in the group, so I immediately followed suit.
Small group discussing $shib
Mr. Li led the purchase
Checking the records, that morning I bought about 650 billion pieces, calculating the current price: 0.00000817 * 650000000000 = 5.31 million U; the highest price of $shib calculated: 0.00008836 * 650000000000 = 57.43 million U. Although the calculations were satisfying, the actual returns were far from it.
On-chain purchase record
A small episode: Jinse Finance once released a news flash about $shib, but I have forgotten the content. I asked friends in the group about it, but they did not take it seriously because Jinse Finance was not reliable.
Second discussion about $shib
After buying on March 15, it once surged nearly double, then immediately fell. Before the surge on April 16 on the exchange, I was trapped by $fei and had to sell 20,000 U of $shib at the original price due to lack of funds, 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 my entire position. The period when $SHIB did not rise was torturous: with no money to operate, I saw friends' coins skyrocketing. I felt deeply that it was hard to get funds out, and the money I desperately earned in the bull market might go up in smoke, leading to extreme despair. Fortunately, after half a month, things started to look up.
III. The First Crazy Surge of $shib (Resignation Incident)#
On Friday, April 16, $SHIB was listed on the exchange. Coincidentally, my entrepreneurial brother came to Shenzhen, and we had a reunion dinner and massage. I stayed awake all weekend, chatting casually while keeping a close eye on the exchange, 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 worried about the locked position in $fei.
At that time, I was determined not to sell $shib, perhaps out of a desire to get rich quickly. I was clear-headed and even made waves to acquire lower-priced chips.
On-chain recharge to gate.io
Here I want to praise gate.io: although I don't like its UI and interaction, it has only one year of trading records, while gate.io allows checking all records and is fast.
The K-line chart of the first surge
On Monday, April 19, I arrived at the company around 10 o'clock to organize work on WeChat. The leader arranged tasks, and I asked about the process, to which he replied:
Unreasonably confronted
I was internally exploding: "Do whatever you want." After he nagged for half an hour, I asked, "Are you done? I have something to say: I quit."
Saying it felt as satisfying as a male protagonist in a web novel reversing his fate, as I had endured him for a long time.
In retrospect, I still feel it wasn't ruthless enough; I cared too much about face. I regret not directly confronting him in the work group: enduring for a moment makes me angrier, taking a step back makes me feel like I've lost more.
Resignation letter
At that time, the total value of $shib was about 600,000 to 700,000 U, and if I cashed out with $fei, it could reach 900,000 to 1,000,000 U.
The resignation episode was interesting: I didn't mention making money, just said my partner needed me back in Guangzhou. He tried to persuade me for half a month, and during team-building, he kept talking to me alone. I could no longer endure and frankly said I made some money and wanted to take a break. He knew it was hard to keep me but kept asking for the specific amount. When I said I made 7-800W, he tried to save face and said, "7-800W is not much; it would be gone if you bought a house in Shenzhen," and I didn't bother to argue.
The most amusing part was a week later when I liquidated my position; he asked how things were in the crypto world. I said my 7/800W was about to become 20 million. He was left speechless and no longer sought to save face.
IV. Liquidation and Exit (Crazy Zoo)#
After the pullback on April 20, it did not continue to decline, and the trend was stable, so I was able to hold on. If it had continued to drop, I might have already run away. In the half-month that followed, good news kept coming: discussions about $shib increased; Musk's rocket launch had fans frantically commenting and hoping for a rise; the three major exchanges had not yet listed it. At the end of April, Xue Manzi entered the market and shouted for it, and soon OK was listed.
Mr. Li's strong promotion
First crazy discussion about a coin in the friend circle
I clearly remember that $shib was listed on OK on May 8 at noon: because OK's partners hinted it would go live at 12 o'clock, but my leader and I went out for a meal (the resignation procedures were not completed), and the signal was poor in the underground parking lot and elevator, so I missed the high opening price. This episode deepened my hatred for the leader.
In the afternoon, Huobi followed suit and went live. I thought: with two major exchanges already listed, Binance being the first, it wouldn't go up too quickly. So I liquidated my entire position, waiting for a pullback to buy back. Unexpectedly, Binance went live on the 10th, and I missed half of A9 within 48 hours.
The subsequent events are well-known: the zoo went crazy for more than a week, followed by the 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 depends on fate. However, those who change their fate seem to have many prerequisites. If you completely lie flat, even gods can't save you.
To make big money, you need to dare to think: at that time, I asked myself why I couldn't act like those who started at the same time? It's not because I have made money that I say this; if luck were bad, my experience might have been ordinary.
Making big money relies on fate, but effort is the foundation: during that time, I gave my all, and my irregular sleep schedule led to kidney stones. For new projects, whether I understood them or not, I bought in and researched afterward, similar projects seizing the opportunity.
The key to not giving up: this allowed me to surpass most of my peers. In this market, you may not operate, but don't leave the circle; the wheels of fate will eventually turn to you.
Investment ultimately revolves around risk management (position management): I did not learn this, leading to severe losses in the bear market. I must change this in the next bull market.
I hope that everyone who turns their fortunes in the crypto world encounters their own $shib.
OKX Activities This Month#
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Related Reading#
2025 China's Top Ten Virtual Currency Trading Platforms Latest Rankings Are Out 🔥【Worth Collecting】
【Real Stories of Getting Rich in the Crypto World】Many people ask me how I went from 0 to 11 million and then to a debt of 100,000 over the years of trading coins?
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