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), but I hope to share with you all how to endure the winter 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: in the future, I must closely follow Elon Musk's movements. This also laid the groundwork for my subsequent investment in $shib.
That period was 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 posting 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 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 capture market hotspots and achieve a turnaround grew even 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 were 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 project research was completed on the evening of March 14, and although I dare not claim to be the first discoverer in the country, there was no relevant discussion found on WeChat at that time. Due to the lack of market heat, I lacked confidence and did not build a position in time. On the morning of the 15th, after seeing the big shot @liping007 Mr. Li's CX, I immediately followed suit.
Small group CX $shib
Mr. Li took the lead in buying
After verifying the on-chain records, approximately 650 billion pieces were purchased that morning, equivalent to about 5.31 million USDT at the current price of 0.00000817, and calculated at the historical high of 0.00008836, it reached 57.43 million USDT. Although the numbers on paper were astonishing, the actual returns were vastly different.
On-chain purchase records
An interesting episode occurred during this time: Jinse Finance once released a $shib news flash (the specific content has been forgotten), and I used it to CX my friends, 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 USDT due to being trapped in the $fei situation (my remaining 30,000 USDT position was halved to 15,000 USDT).
At the end of March, the entire network was hyping the stablecoin $fei, and I invested about 2 million USDT. During the dormant period of $SHIB, I had to endure frozen funds while witnessing my friends' coins skyrocketing, and I once fell into despair. Fortunately, a turning point arrived half a month later.
III. The First Crazy Surge of $shib (The Resignation Incident)#
On an ordinary Friday, April 16, MEXC listed $SHIB just as my entrepreneurial partner came to Shenzhen for a gathering. That weekend, I stayed up all night, reminiscing and keeping a close eye on the market.
From the 16th to the 19th, there was a surge of over twenty times, and the position dilemma with $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 must praise gate.io. Although I do not like its UI interaction, its trading record inquiry 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 criticized
When he said "love it or leave it," I directly proposed my resignation. Although I did not slap him in the face like the male protagonist in web literature, I did feel a sense of relief when I said the words "I want to resign."
Resignation proposal
At that time, my $shib holdings were about 600,000 to 700,000 USDT, combined with the $fei position, my total assets approached one million USDT. The resignation process was quite dramatic: I was repeatedly persuaded to stay under the pretext of "going to Guangzhou for a reunion," and it was only when I candidly stated that I "made seven to eight million" that they finally relented. A week later, when my holdings appreciated to 20 million USDT, my leader was left speechless.
IV. Clearing Out (The Crazy Zoo)#
After a pullback on April 20, the trend stabilized, coupled with the heated discussions around Musk's rocket plan, Xue Manzi's calls, and the sequential listings on the three major exchanges, my confidence in holding positions continued to strengthen.
Mr. Li's strong advocacy
Friends' CX celebration
I clearly remember the day OKEx listed on May 8, as I missed the opening high point due to lunch with my former leader. Subsequently, Huobi quickly followed suit, and I misjudged the listing rhythm of Binance, clearing my entire position and missing the A9-level returns brought by Binance's listing within 48 hours.
The subsequent story is well-known: after a week of frenzy in the zoo market, we welcomed the 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 actually the result of multiple factors accumulating. Those who completely lie flat will never have a chance to turn things around.
Daring to think and act leads to breakthroughs: I have always believed that what others can achieve, I can also achieve (not hindsight bias; if luck were not on my side, the story would be entirely different).
Destiny must be built on diligence: I once suffered from kidney stones due to working day and night on research projects, but it was this fighting spirit that allowed me to seize opportunities when similar chances arose.
An unyielding tenacity helped me surpass most of my peers. The current market may pause operations, but it is essential to stay within the circle and quietly await the turning of fate.
The ultimate art of investing lies in risk management (position control), and the painful lessons of this bear market will surely become valuable experiences for the next bull market.
I hope every brother aiming for a turnaround can find their own $shib.
OKX Activities This Month#
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Related Reading#
2025 Top Ten Virtual Currency Trading Platforms in China Latest Ranking🔥【Must-Have for Collection】
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