Asian Market Wrap-Up for March 6: Shiba Inu, Dogecoin, and Binance Coin
Shiba Inu’s lead developer, Shytoshi Kusama, has increased the prize pool for the monthly Shiba Eternity tournament, as well as doubling the tournament frequency to twice a month. This has generated a bullish sentiment among SHIB ecosystem participants. Meanwhile, Dogecoin has continued to grow, with its uptrend sustained by the steady demand wall at $0.075. The cryptocurrency ecosystem saw a correction due to uncertainty from Silvergate Bank’s clients, crypto firms, and cryptocurrency exchanges dropping the institution, but DOGE’s price remained strong above the support level. Finally, South Korean blockchain-based community platform Steemhunt has accused Binance of stealing its AI-based NFT product, Chatcasso. Binance’s NFT product is named Bicasso, raising concerns that the similarity in name and features may stifle Steemhunt’s innovation.