1. Introduction#
Many friends online and offline are curious about how I managed to hold onto $shib. I have shared this experience with different friends multiple times. Last year, due to continuous losses, I was not in the mood to organize my thoughts. Now, taking advantage of the current market downturn, I will review this journey and summarize experiences that can be referenced for the next bull market.
This article is not meant to boast (after all, the profits made by luck have all been lost), but I just want to share with my brothers to get through the bear market together and wait for a resurgence.
From late January to early February 2021, the $doge surge of 10 times made me regret immensely—I had to stop-loss my long position when Bitcoin dropped from 40,000 to below 30,000. This experience made me realize that closely following Musk is where the opportunities lie, which also laid the groundwork for my later entry into $shib.
That time was unforgettable: I was slacking off at work during the day and tossing and turning at night, actively participating in various communities to relieve anxiety. Every time I saw friends in the group posting multiple returns in the early morning, I felt a mix of emotions.
Before buying $shib, many old coin friends had already realized A8 through holding bnb/cake or defi mining. Meanwhile, my 200,000 from a 2019 loan from China Merchants Bank had dwindled to 100,000 by 2020, and at the beginning of 2021, my assets were vastly different from those of my friends, with a maximum of 200. At that time, I made a silent determination: I must seize the new hot spot to overtake others and never let anyone else take over my position.
2. The Wheels of Fate Begin to Turn#
Looking back at this chat record, it has already been two and a half years, as if it were just yesterday.
On the morning of March 15, I sent this message in a small group, which contained a lot of information: I had already researched $shib on the evening of March 14. Although I considered myself one of the earliest discoverers in the country, I missed the first bus due to a lack of confidence since no one mentioned it on WeChat. After seeing General Li @liping007 call for a buy on the morning of the 15th, I immediately followed suit.
Small group CX $shib
General Li led the purchase
On-chain records show that on that day, 650 billion pieces were bought, which, at the current price, amounts to 5.31 million U, and at the historical peak, it reached 57.43 million U (of course, the actual amount received was far less).
On-chain purchase record
During this period, there was an episode: after Jinse Finance released news about $shib, I tried to CX my friends, but it was not taken seriously due to the credibility issues of that platform.
Second CX $shib
After buying on March 15, I experienced a brief doubling followed by a decline. Before going on Matcha on April 16, I was forced to sell 20,000 U at the original price due to being trapped by $fei, and my remaining 30,000 U position was halved to 15,000 U.
At the end of March, when the whole network was FOMOing into the stablecoin $fei, I invested all my funds of 2 million. This led to an exceptionally torturous period for $SHIB, as there were no funds to operate, and I witnessed my friends' coins skyrocketing. At that time, I was already prepared for a total loss, but fortunately, a turnaround came half a month later.
3. The First Crazy Surge of $shib (Resignation Incident)#
On Friday, April 16, $SHIB was launched on Matcha. Coincidentally, my entrepreneurial brothers came to Shenzhen for a gathering, and that weekend, I was glued to the market, not sleeping for three days and nights.
From the 16th to the 19th, it surged more than 20 times, and the trapped funds from $fei became irrelevant. Looking back at the reasons for firmly holding the coins at that time, it might have been due to an obsession with getting rich, or perhaps I calmly made waves to acquire lower chips.
On-chain recharge to gate.io
Special shoutout to gate.io: although I don't like its UI interaction, the transaction record query system far exceeds its peers, supporting quick retrieval of data across all time periods.
First surge K-line chart
On Monday, April 19, due to unreasonable accusations from my boss, I exploded on the spot: "I want to resign!" Saying this felt as exhilarating as the protagonist in a cultivation novel making a comeback.
Unreasonably confronted
Submitting resignation
At that time, my $shib position was about 600,000 to 700,000 U, and with the funds released from $fei, it could reach the million U level. When resigning, I falsely claimed I was "going to develop in Guangzhou," and my boss kept trying to persuade me for half a month. During a team-building event, I candidly said, "I made seven to eight million," and the other party actually said, "If you buy a house in Shenzhen, it will be gone." A week later, when I cleared my position, I informed them that my assets had reached 20 million, finally leaving them speechless.
4. Clearing Positions and Exiting (Crazy Zoo)#
After a pullback on April 20, the trend stabilized, and with favorable news such as Musk's rocket launch and Xue Manzi's calls, I firmly held my position during the window period when it was not listed on the three major exchanges. When OKEx went live on May 8, I missed the peak due to a dinner with my boss; shortly after Huobi went live, I misjudged that Binance would not follow up quickly and cleared my position, missing the opportunity to reach A9 within 48 hours.
General Li was very supportive everywhere
CX scene in the friend circle
With Binance's sudden launch, the zoo market celebrated for a week before facing a crash on May 19, marking the end of my story with $shib.
Three major exchanges went live in two consecutive days
5. Experience & Summary#
Getting rich seems like luck, but there are traces to follow:
- Dare to think and act: Firmly believe that "if others can succeed, so can I," and have the determination to break the boat before succeeding.
- Extreme effort: Research every new project, staying up late to the point of developing kidney stones while still insisting on learning.
- Never give up: With this momentum, surpass classmates at each stage, and I suggest staying in the market during bear markets.
- Risk management: The painful lessons from this round of retracement must be heavily managed in the next bull market.
May every dreamer in the crypto world find their own $shib.
OKX Activities This Month#
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