The legendary wealth of cryptocurrency: The journey of turning 30,000 U into 2.6 million U in 52 days of SHIB investment.

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 may serve as references for the next bull market.

This article is by no means a boast (after all, the profits from the hype have mostly evaporated), 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 after Bitcoin fell from 40,000 to below 30,000, but I realized a key insight: 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 my anxiety. In the early hours, I witnessed friends in the group showcasing returns of several times, even dozens of times.

Before purchasing $shib, I saw many veteran players achieve 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, but by early 2021, it peaked at 2 million, still falling short compared to my peers. At that time, I clearly recognized: 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 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; the brief text carried immense information. On the night of March 14, I had delved deeply into $shib. Although I cannot claim to be the first gold digger in the country, there was no discussion found in WeChat search at that time, and my confidence was insufficient to enter the market. On the morning of the 15th, after seeing Mr. Li @liping007 preach, I decisively followed suit.

The community's first recommendation for $shib

Mr. Li's leading investment record

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

On-chain transaction proof

An interlude: After Jinse Finance released news about $shib, I shared it in the community but was ignored by group 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, I was forced to close a 20,000 USD position due to cashing out $fei, and my remaining 30,000 USD position was halved to 15,000 USD.

At the end of March, the entire network was fervently chasing the stablecoin $fei, and I invested my entire 2 million USD. The sideways period of $SHIB was exceptionally torturous: funds were frozen + the pressure from friends showcasing their gains made me nearly despair. Fortunately, a turning point came half a month later.

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

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

From April 16 to 19, it achieved 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 waves 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 surge K-line

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

Sudden workplace conflict

The repressed emotions exploded in an instant: "I want to resign!" At that moment, it felt like the protagonist of a refreshing novel making a comeback, with long-standing grievances finally being released.

Resignation application

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

Resignation interlude: I falsely claimed I was 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 space, and when I mentioned the 7 to 8 million USD gains, 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 Celebration)#

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

Mr. Li's strong promotion

Unprecedented promotion in WeChat Moments

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 celebration in the zoo market, the epic crash on May 19 arrived. My legend with $shib came to an end.

The three major exchanges listed consecutively

V. Lessons Learned#

The enormous profits seem to be a result 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 competitive spirit; although success and failure involve luck, only those who dare to take the lead have the possibility of breaking through.

Destiny 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 present and 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 space capture their own $shib.

OKX Activities This Month#

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