I. Introduction#
Many friends online and offline are curious about how I have steadfastly held onto $shib. My story with $shib has been shared multiple times with different groups. 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 systematically review this experience and extract insights and viewpoints for reference in the next bull market.
This article is by no means a bragging post (after all, the profits from the hype have mostly been given back); I only hope to share this winter with everyone and gather strength for the next battle.
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 learned an important lesson: I must closely follow Elon Musk's movements in the future. This also laid the groundwork for my subsequent investment in $shib.
That time was unforgettable: during the day, I slacked off at work, and at night, I tossed and turned, mingling in communities to relieve anxiety. In the early hours, I witnessed friends in the group showcasing returns of several times or even dozens of times.
Before buying $shib, many veteran players had already achieved A8 wealth by holding onto bnb/cake or participating in defi mining. In contrast, I had entered the market in 2019 with a 200,000 loan from China Merchants Bank, which shrank to 100,000 in 2020, and peaked at 200 in early 2021, creating a significant gap with my friends. At that time, I deeply realized that if I continued to operate 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 capture market hotspots and achieve a turnaround grew stronger.
II. The Gears of Fate Begin to Turn#
Looking back at this screenshot, it has been two and a half years, as if it happened yesterday.
On the morning of March 15, I posted this message in a small group; the brief text contained multiple pieces of information. It should be noted that I had completed project research on the evening of March 14. Although I dare not claim to be the first discoverer in the country, there was no relevant discussion found in WeChat search at that time. Due to the lack of market heat, I lacked confidence and did not build my position in time. On the morning of the 15th, after seeing the big shot @liping007, I immediately followed suit.
Small group CX $shib
Mr. Li led the purchase
Checking the on-chain records, approximately 650 billion pieces were purchased that morning, amounting to about 5.31 million U at the current price of 0.00000817, and 57.43 million U when calculated at the historical peak of 0.00008836. Although the numbers on paper were astonishing, the actual returns were vastly different.
On-chain purchase records
An interesting episode occurred during this period: Jinse Finance once released a news flash about $shib (the specific content has been forgotten), and I used this to inform my friends in the group, but it was not taken seriously due to the platform's lack of credibility.
Second CX $shib
Since building my position on March 15, I experienced a brief doubling followed by a decline. In the month leading up to its listing on MEXC on April 16, I was forced to close a position of 20,000 U due to being trapped in the $fei situation (my remaining 30,000 U position was halved to 15,000 U).
At the end of March, the stablecoin $fei was being hyped across the network, and I invested about 2 million in my entire position. During the dormant period of $SHIB, I had to endure frozen funds while witnessing friends' coins skyrocketing, and I once fell into despair. Fortunately, a turning point came half a month later.
III. The First Crazy Surge of $shib (The Resignation Incident)#
On an ordinary Friday, April 16, the listing of $SHIB on MEXC coincided with a gathering of my entrepreneurial partners in Shenzhen. That weekend, I stayed up all night, reminiscing and keeping a close eye on the market.
From April 16 to 19, there was a surge of over twenty times, and the position dilemma of $fei was no longer a concern. Looking back, my firm holding mentality at that time, perhaps driven by the obsession with getting rich, even allowed me to complete wave operations to acquire lower chips.
On-chain recharge to gate.io
Here, I need to praise gate.io. Although I do not like its UI interaction, its transaction record query system far exceeds that of its peers, supporting quick retrieval of all historical data.
First surge K-line
On the morning of April 19, during a Monday meeting, my leader inexplicably reprimanded me, igniting the fuse for my resignation:
Unjustly reprimanded
When he said, "If you love it, do it," I directly submitted my resignation. Although I did not slap him in the face like the male protagonist in an online novel, saying "I want to resign" did give me a sense of relief.
Resignation proposal
At that time, my $shib holdings were about 600,000 to 700,000 U, combined with the $fei position, totaling nearly 1 million U in assets. The resignation process was quite dramatic: I was repeatedly persuaded to stay under the pretext of "going to Guangzhou for a reunion," and only after admitting to "earning seven to eight million" did they finally give up. A week later, when my holdings appreciated to 20 million U, my leader was left speechless.
IV. Liquidation and Exit (The Crazy Zoo)#
After a pullback on April 20, the trend stabilized, supported by the heated discussions around Musk's rocket plan, Xue Manzi's calls, and the sequential listings on the three major exchanges, confidence in my holdings continued to grow.
Mr. Li's strong advocacy
Friends' circle CX celebration
I clearly remember the day OKEx listed on May 8; I missed the opening peak due to lunch with my former leader. Shortly after, Huobi quickly followed suit, and I misjudged the listing rhythm on Binance, clearing my entire position and missing the A9-level returns brought by Binance's listing within 48 hours.
The story afterward is well-known: after a week of frenzy in the zoo market, we faced an epic crash on May 19. My story with $shib came to an end.
The three major exchanges listed consecutively
V. Experience & Summary#
Large profits may seem like luck, but they are the result of multiple factors accumulating. Those who completely lie flat will never have a chance to turn things around.
Dare to think and act to achieve breakthroughs: I have always believed that what others can achieve, I can also achieve (not hindsight, as the story would be entirely different if luck were not on my side).
Destiny must be built on diligence: I once suffered from kidney stones due to day-and-night research projects, but it was this fighting spirit that allowed me to seize opportunities when similar chances arose.
The tenacity of never giving up helped me surpass most of my peers. The current market may pause operations, but it is essential to stay within the circle and wait for the wheel of fate to turn.
The ultimate art of investment lies in risk management (position control). The painful lessons from this bear market will surely become valuable experiences for the next bull market.
May every brother aspiring to turn things around find their own $shib.
OKX Activities This Month#
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Related Reading#
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