I. Preface#
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, but now, taking advantage of the market downturn, I have decided to review this story and summarize the experiences and reflections that may serve as a reference 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 patiently await the day of resurgence.
From late January to early February 2021, $doge experienced a tenfold surge. At that time, I regretted having to stop-loss my $doge long position due to Bitcoin's drop from 40,000 to below 30,000, but I also realized a key insight: if another opportunity arises, I must closely follow Elon Musk's movements. This laid the groundwork for my subsequent investment in $shib.
I vividly remember those days and nights: during the day, I slacked off and worked, and at night, I tossed and turned, mingling in communities to alleviate anxiety. In the early hours, group friends frequently shared screenshots of returns multiplying by several times or even dozens of times, which was exhilarating.
Before buying $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, a stark difference. At that time, I resolved: if I continued to follow mainstream altcoins, not only would I find it hard 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 crossed two and a half years, as if yesterday is being replayed.
On the morning of March 15, I sent this analysis in a small group, with a few words packed with high information density. It should be noted that on the evening of March 14, I had conducted in-depth research, and although I wouldn't dare to claim I was the first to discover it in the country, there was indeed no related discussion found on WeChat search at that time. Due to the lack of market heat and insufficient confidence, I did not dare to build a position that night. The next morning, seeing the big shot @liping007 in the group calling for a buy, I decisively followed suit.
Small group CX $shib
Mr. Li led the purchase
Checking the on-chain records, a total of 650 billion coins were bought that morning, amounting to about 5.31 million U at the current price, and if calculated at the historical peak, it would be as high as 57.43 million U. Of course, this is just a theoretical value; the actual returns were vastly different.
On-chain purchase record
During this period, there was an interlude: Jinse Finance had released news related to $shib (the specific content has been forgotten), and I used this to call for a second buy in the group. However, the credibility of that media outlet was lacking, and everyone paid it no mind.
Second CX $shib
Since building the position on March 15, $shib briefly doubled and then began to decline. On April 16, before its listing on MEXC, I was forced to sell a 20,000 U position at cost due to the cash-out demand of $fei, and my remaining 30,000 U position was once halved to 15,000 U.
By the end of March, the entire network was caught up in the $fei stablecoin frenzy, and I bet nearly 2 million 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 soaring one after another. At that time, I deeply felt that my investment might go to waste, thinking that the hard work from the bull market might be in vain, 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 stayed up all night, chatting with my brothers while closely watching the market, afraid of missing any sudden fluctuations.
From April 16 to 19, $shib violently surged over 20 times. The explosive increase 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 managing to execute segment trades to acquire lower-cost chips.
On-chain recharge to gate.io
Here, I must praise 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 queries and quick retrieval.
First explosive K-line chart
On the morning of April 19, during a meeting, the leader threw out this reply while assigning work:
Unexplainably criticized
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."
The experience at that moment was comparable to the male protagonist in a cultivation novel making a comeback, mainly due to the release of long-term workplace repression. Looking back now, I still feel it wasn't enough to vent; it was a regret not to publicly retort in the work group—enduring for a moment leads to long-term suffering.
Resignation notice
At that time, my $shib position was worth about 600,000 to 700,000 U, combined with the cash-out funds from $fei, my total assets were nearly 1 million U.
The resignation incident 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 retain me over the next two weeks, even having private talks during team-building activities to persuade me to stay. Eventually, I had to admit to "small profits for a break," and when they asked for the specific amount, I reported a figure of 7 to 8 million. The other party forced a smile, saying, "This amount of money will be gone when buying 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 frenzy, and the three major exchanges had yet to list, creating room for imagination. At the end of April, Xue Manzi made a high-profile entry, and OKEx immediately announced its listing.
Mr. Li continued to empower
Friends circle CX fired up
I clearly remember the scene on May 8 when $shib was listed on OKEx: I received hints from insiders that it would be listed at noon, but due to dining out with my leader (resignation procedures not yet 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 observe, 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 the zoo concept frenzy, the anticipated crash on May 19 arrived, and my legend with $shib came to an end.
The three major exchanges listed in succession
V. Experience & Summary#
Getting rich is essentially a low-probability event, but behind the metaphysics of fate lies an inevitable logic. Those who completely lie flat 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.
Fortune is predetermined; 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 this kind of broad exploration that cultivated market sensitivity.
An unyielding 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 from this bear market will surely become strategic reserves for the next bull market.
May every friend with a dream of a comeback encounter their own $shib.
OKX Activities This Month#
New users can enjoy a blind box or Dogecoin gift package upon registration, supporting direct link registration: Click to go to the official website or Backup link
Related Reading#
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