The legendary cryptocurrency wealth of SHIB: A 52-day investment journey from 30,000 U to 2.6 million U.

I. Introduction#

Many friends online and offline are curious about how I have steadfastly held onto $shib. 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. Now, taking advantage of the market downturn, I will review this journey and summarize experiences that can serve as a reference for the next bull market.

This article is by no means a boast (after all, profits from the hype have mostly been given back), but I hope to share this winter with you all and patiently await a resurgence.

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 realized a key point: closely follow Elon Musk's movements. This laid the groundwork for my subsequent investment in $shib.

That period is 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 showcasing returns of several times or even dozens of times.

Before purchasing $shib, I saw many veteran players achieving A8 leaps by holding onto bnb/cake or participating in DeFi mining. Meanwhile, my 200,000 principal from a 2019 China Merchants Bank loan shrank to 100,000 in 2020, and by early 2021, it peaked at 2 million, still leaving me behind my friends. At that time, I clearly recognized: if I continued to operate with mainstream coins and regular altcoins, not only would it be hard to catch up, but I might also become a bag holder. The strong desire to seize the hot trend and achieve a comeback grew increasingly intense.

II. Turning Point#

Looking back at this screenshot, it has already been two and a half years, as if it were yesterday.

On the morning of March 15, I sent this message in a small group, a brief text with immense information. On the night of March 14, I had already deeply researched $shib. Although I cannot claim to be the first gold digger in the country, at that time, there was no discussion found in WeChat search, and my confidence was insufficient to enter the market. On the morning of the 15th, after seeing Mr. Li @liping007 preach, I decisively followed his investment.

The community first promoted $shib

Mr. Li's lead investment record

According to on-chain data, I purchased about 650 billion coins that morning, which now equates to 5.31 million U, and at historical peak values, it reached 57.43 million U. Although it looks good on paper, the actual profit is far from it.

On-chain transaction proof

An interlude: After Jinse Finance released news about $shib, I forwarded it to the community but was ignored by friends due to the platform's credibility issues.

Second promotion of $shib

After building my position on March 15, I experienced a brief doubling before a continuous decline. Before the listing on April 16, due to cashing out $fei, I was forced to close a position of 20,000 U, and the remaining 30,000 U position was halved to 15,000 U.

At the end of March, the entire network was frantically chasing the stablecoin $fei, and I invested all my funds of 2 million. The sideways period of $SHIB was exceptionally torturous: with funds frozen and friends showcasing their gains and losses, I was nearly in despair. Fortunately, a turning point came two weeks later.

III. First Round of Explosive Growth (Resignation Turmoil)#

On an ordinary Friday, April 16, $SHIB was listed on the exchange. Coincidentally, my entrepreneurial partner came to Shenzhen for a meeting, and that weekend, I stayed up all night, closely monitoring the market amidst socializing.

From April 16 to 19, there was a more than twentyfold surge, and the funds locked in $fei were no longer a concern.

At that time, my determination to hold onto $shib stemmed from a strong obsession with getting rich quickly, and during this period, I even accurately operated in segments to acquire low-priced chips.

On-chain recharge to gate.io

I particularly want to commend gate.io. Although the UI interaction is lacking, its complete transaction record query function far exceeds that of its peers.

First round of explosive growth K-line

On Monday, April 19, while communicating at work via WeChat, I was suddenly reprimanded unreasonably by my boss:

Sudden workplace conflict

The repressed emotions exploded instantly: "I want to resign!" At that moment, it felt like the protagonist of a 爽文 (a type of Chinese web fiction) making a comeback, with long-held grievances finally being released.

Resignation application

At that time, my $shib holdings were about 600,000 to 700,000 U, and combined with the funds released from $fei, it could reach 900,000 to 1 million U.

An interlude during my resignation: I falsely claimed to be going to Guangzhou for development, and my boss tried to persuade me to stay for half a month. During a team-building event, I candidly mentioned my profits in the crypto circle, and when I stated the earnings of 7 to 8 million, the other party forced a smile and said, "Buying a house in Shenzhen would exhaust it all." A week later, when my holdings appreciated to 20 million, he fell silent.

IV. Perfect Conclusion (Zoo Carnival)#

After a pullback on April 20, the trend stabilized, coupled with multiple positive factors: community discussions heated up, Elon Musk's rocket launch sparked fan excitement, and the three major exchanges had not yet listed. At the end of April, Xue Manzi entered the market and called for investments, with OKEx being the first to list.

Mr. Li's strong promotion

Unprecedented promotion in friend circles

I clearly remember that on May 8, when OKEx listed during the midday session, I missed the peak sale due to dining with my boss (resignation procedures were not completed). That day, Huobi followed closely with its listing, and I judged that Binance would not follow quickly, so I liquidated my position, not expecting Binance to list within 48 hours, missing the A9 opportunity.

The subsequent story is well-known: after a week of carnival in the zoo market, the epic crash of 519 arrived. My legend with $shib came to an end.

The three major exchanges listed consecutively

V. Lessons Learned#

The huge profits seem to be a matter of luck, but they are actually a comprehensive product of timing, location, and human factors. Those who completely lie flat are unlikely to encounter opportunities.

Getting rich requires daring to think and act. The gap between players during the same period ignites ambition; although success and failure depend on luck, only those who dare to be the first have the possibility of breaking through.

Fate is hard to defy; efforts must be made to lay a foundation. At that time, I studied new projects day and night, sacrificing my health for cognitive improvement, laying the groundwork for future opportunities.

The tenacity of never giving up helped me achieve a leap in social class. During the bear market's dormant period, it is especially necessary to remain in the market and quietly wait for the wheels of fate to turn.

The ultimate topic is risk management (position control). The painful lessons from this bear market must be remembered in the next bull market.

May every dreamer in the crypto circle capture their own $shib.

OKX Activities This Month#

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