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 after Bitcoin fell from 40,000 to below 30,000, but I learned a key lesson: closely follow Elon Musk's movements. This laid the groundwork for my subsequent $shib investments.
That period is 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 sharing returns of several times or even dozens of times.
Before purchasing $shib, I saw many veteran players achieve A8 leaps by holding onto bnb/cake or participating in defi mining. Meanwhile, my 200,000 principal from a 2019 China Merchants Bank loan shrank to 100,000 in 2020 and peaked at 2 million in early 2021, still falling short compared to my friends. At that time, I realized clearly: 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 spots and achieve a comeback grew stronger.
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, and although I couldn't claim to be the first gold digger in the country, I found no discussions when searching on WeChat, and my confidence was insufficient to enter the market. On the morning of the 15th, after seeing Mr. Li @liping007 preach, I decisively followed his investment.
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 at the current price equates to 5.31 million U, and at the historical peak, it reached 57.43 million U. Although it looked good on paper, the actual profits were 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 of $shib
After establishing my position on March 15, I experienced a brief doubling before a continuous decline. Before the listing 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 my entire 2 million. The sideways period of $SHIB was exceptionally torturous: with funds frozen and friends sharing their gains, I was nearly in despair. Fortunately, a turning point came two weeks later.
III. First Round of Explosive Growth (Resignation Turmoil)#
On an ordinary Friday, April 16, $SHIB was listed on the exchange. Coincidentally, my entrepreneurial partner came to Shenzhen for a meeting, and that weekend, I stayed up all night, closely monitoring the market amidst the socializing.
From April 16 to 19, 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 accurately operated on price fluctuations to acquire low-cost 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 subjected to unreasonable reprimands from my boss:
Sudden workplace conflict
The repressed emotions exploded in an instant: "I want to resign!" At that moment, it felt like the protagonist of a success story making a comeback, with long-standing grievances finally being vented.
Resignation application
At that time, my $shib holdings were about 600,000 to 700,000 U, and combined with the funds released from $fei, it could reach 900,000 to 1 million U.
Interlude of resignation: I falsely claimed to be going to Guangzhou for development and was persuaded by my boss to stay for half a month. During a team-building event, I candidly mentioned my profits in the crypto circle, 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 expectations for the three major exchanges to list were high. At the end of April, Xue Manzi entered the market and called for purchases, with OKEx being the first to list.
Mr. Li's strong promotion
Unprecedented promotion in friend circles
I clearly remember that on May 8, when OKEx listed during the afternoon session, I missed the peak selling point due to dining with my boss (resignation procedures were not completed). That day, Huobi followed suit with its listing, and I judged that Binance would not follow quickly, so I liquidated my position, not expecting Binance to list 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 on May 19 occurred. My legend with $shib came to an end.
The three major exchanges listed consecutively
V. Lessons Learned#
The enormous profits seem to be a result 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 gap between players during the same period ignites ambition; although success and failure involve luck, only those who dare to take the lead have the possibility of breaking through.
Fate is hard to defy; one must work hard to build a foundation. At that time, I studied new projects day and night, sacrificing 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 present and patiently wait 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 circle capture their own $shib.
OKX Activities This Month#
New users can enjoy blind boxes/dogecoin gift packages. Direct registration channel in China: Click to jump to the official website (some regions may require a VPN) or alternative link
Further Reading#
2025 Top Ten Virtual Currency Trading Platforms in China - Authoritative Ranking 🔥【Must-Collect】
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