I. Introduction#
Many friends online and offline are curious about how I have held onto $shib for a long time. 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, but 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 by no means a boast (after all, the profits from the hype have mostly been given back), but rather a way to share with my brothers to endure the winter and prepare for a comeback.
During the tenfold surge of $doge from late January to early February 2021, I regretted stopping my $doge long position when Bitcoin fell from 40,000 to below 30,000, but I realized I needed to closely follow Elon Musk's movements, which laid the groundwork for my subsequent investment in $shib.
That time was unforgettable: working during the day and tossing and turning at night, mingling in communities to relieve anxiety. In the early hours, I often saw friends in the group sharing screenshots of returns that were multiples or even tens of times their investments.
Before buying $shib, I witnessed many veteran players upgrade to A8 by holding bnb/cake or participating in defi mining. In contrast, I had used a 200,000 loan from China Merchants Bank in 2019, which shrank to 100,000 in 2020, and peaked at only 200 in early 2021, a stark difference. At that time, I made a silent resolution: if I continued to play mainstream altcoins, I would inevitably become a bag holder; I had to seize new opportunities to achieve a turnaround.
II. Turning Point#
Looking back, this screenshot is already two and a half years old, and the past is vivid in my memory.
On the morning of March 15, I sent this message in a small group; the brief text carried a lot of information. In fact, I had already done in-depth research the night of March 14, and although I can't claim to be the first to discover it domestically, the lack of mentions in WeChat searches at the time led to insufficient confidence, and I didn't get in on time. On the morning of the 15th, after seeing the big shot @liping007 Mr. Li's investment, I immediately followed suit.
Small group CX $shib
Mr. Li's lead investment record
On-chain data shows that on that morning, approximately 650 billion coins were bought, which, at the current price of 0.00000817, amounts to about 5.31 million U.S. dollars, and at the historical peak of 0.00008836, it would have reached 57.43 million U.S. dollars. Although the numbers on paper were exciting, the actual returns were vastly different.
On-chain transaction proof
During this period, Jinse Finance released a news alert about $shib (the content has been forgotten), and I shared it with my group friends, but due to the media's credibility issues, it was not taken seriously.
Second CX record
After establishing my position on March 15, it experienced a decline of less than double before falling further. Before going on the exchange on April 16, I was forced to close a 20,000 U position due to cashing out $fei, leaving my remaining 30,000 U position halved to 15,000 U.
At the end of March, the entire network was fomoing into the stablecoin $fei, and I invested my entire 2 million into it. The sideways movement of $SHIB was exceptionally torturous: with no funds to operate and witnessing friends' coin prices soaring, I despaired several times, thinking that my efforts in the bull market would go to waste. Fortunately, a turnaround came two weeks later.
III. First Round of Explosive Growth (Resignation Interlude)#
On a mundane Friday, April 16, $SHIB was listed on the exchange. Coincidentally, my entrepreneurial brothers were gathering in Shenzhen, and while toasting, I kept a close eye on the market, witnessing a twentyfold surge over three sleepless days. At this point, the $fei position was no longer relevant.
It's hard to explain the firm holding mentality at that time; perhaps the obsession with getting rich was too strong. I even made a move to acquire lower-priced chips during my clearest moments.
gate.io deposit record
I must praise gate.io; although I dislike its UI interaction, the transaction record query function far exceeds its peers, with complete historical data retrieval being quick.
First round explosive growth K-line
On the morning of April 19, during the Monday meeting, the leader inexplicably launched an attack:
Sudden workplace conflict
The suppressed emotions exploded in an instant: "I want to resign." After half an hour of lecturing, the moment I blurted it out felt as liberating as a protagonist's reversal in a web novel.
Resignation application
At that time, the market value of $shib was about 600,000 to 700,000 U.S. dollars, and combined with the $fei position, the total assets were nearly one million U.S. dollars. The resignation process was quite dramatic: I resigned under the pretext of "going to Guangzhou for a reunion," and the leader tried to persuade me for half a month without success. During a team-building event, I revealed that I had "made seven to eight million," and the other party forced a smile, saying "it's not enough to buy a house in Shenzhen." A week later, when I informed them that my assets had doubled to 20 million, they fell silent.
IV. High-Position Cashing Out (Zoo Carnival)#
After the pullback on April 20, the trend stabilized, combined with the discussion frenzy around Musk's rocket plans, Xue Manzi's calls, and the major exchanges listing one after another, confidence in holding coins surged.
On May 8, the day OKEx listed, I missed the peak opening due to a leadership dinner. In the afternoon, when Huobi followed up, I judged that Binance would not list in the short term, so I cashed out my entire position. Unexpectedly, 48 hours later, Binance suddenly listed, causing me to miss a significant wealth leap.
After that, the zoo concept went crazy for a week, and the final drop on May 19 put an end to the story.
Major exchanges listed consecutively
V. Summary of Experiences#
Large profits may seem like luck, but they are actually the accumulation of multiple factors. Those who completely lie flat cannot be saved by the gods.
Daring to think and act is the key to breakthroughs. The differences among players during the same period sparked my fighting spirit; although the results may vary greatly, the process of striving is indispensable.
Fate may be predetermined, but effort lays the foundation. The determination to study projects and seize opportunities, even sacrificing health by staying up late, is worth it.
The spirit of never giving up helped me surpass my peers at various stages. In a bear market, one can lie low, but it is essential to stay within the circle and wait for a turnaround.
The ultimate lesson remains risk management (position control); the painful lessons from this bear market will be refined in the next bull market.
May every dream chaser find their own $shib.
OKX Activities This Month#
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Extended Reading#
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