I. Introduction#
Many friends online and offline are curious about my journey with $shib. I have shared this experience 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 have decided to review this story and summarize experiences and reflections that may serve as references for the next bull market.
This article is by no means a bragging post—money made from trends has long been given back, and the capital for showing off has vanished. I only wish to share this bear market winter with my brothers and quietly await the day of resurgence.
From late January to early February 2021, $doge experienced a tenfold surge. At that time, I was forced to stop-loss my $doge long position due to Bitcoin's drop from 40,000 to below 30,000, which left me regretful. However, I learned a key lesson: if another opportunity arises, I must closely follow Elon Musk's movements. This laid the groundwork for my subsequent investment in $shib.
The memories of those days and nights are still fresh: working during the day and struggling to sleep at night, mingling in communities to alleviate anxiety. In the early hours, group friends frequently shared screenshots of returns that were several times or even dozens of times, which was exhilarating.
Before getting into $shib, many old coin friends had already entered the A8 ranks 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 at the peak in early 2021, I only had 200. The disparity was stark. At that time, I resolved: if I continued to follow mainstream altcoins, not only would it be difficult to catch up, but I might also become a bag holder. The desire to seize hot trends and make a name for myself grew wildly in my heart.
II. The Gears of Fate Begin to Turn#
Looking back at this screenshot, it has already been over two and a half years, as if it were yesterday.
On the morning of March 15, I sent this analysis in a small group, with a few words packed with information. It should be noted that on the evening of March 14, I had conducted in-depth research. Although I wouldn't dare to claim I was the first to discover it domestically, there was indeed no related discussion when searching on WeChat at that time. Due to the lack of market enthusiasm and my insufficient confidence, I did not dare to open a position that night. The next morning, seeing the big shot @liping007 call a trade in the group, I decisively followed suit.
Small group CX $shib
Mr. Li led the buying
Checking the on-chain records, a total of 650 billion coins were bought that morning, equivalent to about 5.31 million USDT at the current price, and if calculated at the historical peak, it would reach as high as 57.43 million USDT. Of course, this is just a theoretical value; the actual returns were vastly different.
On-chain purchase records
During this period, there was an episode: Jinse Finance had released a related news flash about $shib (the specific content has been forgotten), and I used this to call a second trade to my group friends. However, the media's credibility was lacking, and no one paid it much attention.
Second CX $shib
Since opening a position on March 15, $shib briefly doubled and then began to decline. During the agony before its listing on MEXC on April 16, I was forced to sell a 20,000 USDT position at cost due to the need to cash out $fei, and my remaining 30,000 USDT position was once halved to 15,000 USDT.
By the end of March, the entire network was caught up in the $fei stablecoin frenzy, and I bet nearly 2 million USDT with all my funds. This made the dormant period for $shib exceptionally difficult: there was no capital to operate, and I witnessed my group friends' coins surge one after another. At that time, I deeply felt that my investment might lead to total loss, thinking that the hard work of the bull market might go to waste, and despair spread. Fortunately, a turning point came half a month later.
III. The First Crazy Surge of $shib (Resignation Incident)#
On Friday, April 16, $shib was listed on MEXC. Coincidentally, my entrepreneurial partners came to Shenzhen to gather, and we reminisced over drinks. That weekend, I couldn't sleep all night, chatting with my brothers while keeping a close eye on the market, afraid of missing any sudden fluctuations.
From April 16 to 19, $shib violently surged over 20 times. The scale of the surge made me ignore the liquidity issues of $fei.
Reflecting on my mindset at that time, the determination to hold my position may have stemmed from the obsession with getting rich. I remember being exceptionally clear-headed, even completing wave operations to acquire lower-cost chips.
On-chain recharge to gate.io
Here, I must commend gate.io: although I dislike its UI interaction, compared to other exchanges that only retain a year's trading records, gate.io allows for complete historical data retrieval and quick searches.
First surge K-line chart
On the morning of April 19, during the morning meeting, the leader threw out this reply while assigning work:
Unintentionally confronted
This instantly ignited pent-up emotions, and I immediately felt like resigning. After half an hour of lecturing, I calmly dropped the bomb: "I want to resign."
At that moment, the experience was akin to the male protagonist in a cultivation novel making a comeback, mainly stemming from the release of long-term workplace oppression. Looking back now, I still feel it wasn't enough to vent my frustrations; not publicly confronting in the work group is truly regrettable—enduring for a moment leads to cysts, taking a step back leads to hyperplasia.
Resignation notice
At that time, my $shib holdings were worth about 600,000 to 700,000 USDT, and combined with the funds from cashing out $fei, my total assets were nearly 1 million USDT.
The resignation episode was quite dramatic: I did not reveal the true reason for my departure, only using "going to Guangzhou for a reunion" as an excuse. The leader tried hard to persuade me to stay over the next two weeks, even having one-on-one talks during team-building activities to continue lobbying. Eventually, I had to confess to "making a small profit to rest." When they asked for the specific amount, I quoted 7 to 8 million. The other party forced a smile, saying, "This amount of money would be gone if you bought a house in Shenzhen," and I smiled without replying.
Ironically, a week later, when I completed my liquidation, that leader inquired again about the cryptocurrency market. I casually mentioned, "800 turned into 2000," finally leaving them speechless.
IV. Liquidation and Exit (Crazy Zoo)#
After the pullback on April 20, the $shib trend stabilized, which became key to maintaining my position—if it continued to decline, it would be hard to hold on. During this period, good news kept coming: community discussion heat rose, Elon Musk's rocket launch sparked fan excitement, and the three major exchanges had yet to list, creating imaginative space. At the end of April, Xue Manzi made a high-profile entry, and OKEx quickly announced its listing.
Mr. Li continued to empower
Friends circle CX in full swing
I clearly remember the scene on May 8 when $shib was listed on OKEx: I received an internal hint that it would be listed at 12 o'clock, but because I was dining out with my leader (the resignation procedures were not completed), I lost signal in the underground parking lot and elevator and missed the opening high point. This incident deepened my resentment towards that leader.
In the afternoon, Huobi quickly followed suit. At that time, I judged that Binance, as a leading exchange, would not list immediately, so I chose to liquidate and wait, planning to buy back after a deep pullback. Unexpectedly, Binance listed within 48 hours, perfectly missing half of the A9 opportunity.
The subsequent story is well known: after a week of frenzy around the zoo concept, the 519 crash came as expected, and my legend with $shib came to an end.
The three major exchanges listed one after another
V. Experience & Summary#
Getting rich is essentially a low-probability event, but there is a necessary logic behind fate and metaphysics. Those who completely give up cannot be saved by even the gods.
Daring to think and act is a prerequisite. Initially, seeing contemporaries far ahead, the unwillingness to lag behind became a driving force. Even if the final result is mediocre, this spirit is indispensable.
Wealth is predetermined, and effort lays the foundation. During that time, I researched new projects day and night, and my health raised red flags (staying up late caused kidney stones). But it was precisely this broad net exploration that cultivated market sensitivity.
The relentless spirit helped me surpass most of my peers. In the current market, I suggest maintaining industry awareness—fate's wheel will eventually turn in your favor.
The ultimate topic of investment is risk management (position allocation). The painful lessons of this bear market will surely become strategic reserves for the next bull market.
I hope every coin friend with a dream of a comeback can encounter their own $shib.
OKX Activities This Month#
New users can enjoy a blind box or Dogecoin gift package, supporting direct registration: Click to visit the official website or Backup link
Related Reading#
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