Top Crypto Gainers Today: ENA, PENGU, SPX6900, New Meme Coins

Top Crypto Gainers Today: ENA, PENGU, SPX6900, New Meme Coins

The entire crypto market is going through a recovery following Bitcoin’s dip yesterday that pushed its value below the $116k mark. With the market now surging, there has been a rise of multiple top gainers.

Now may be the right time to stock them up, since the bull run may continue and these assets could rise further. However, investors should still be mindful of the market’s volatility and pick assets that could provide gains by offering early mover opportunities.

Top Gainers of the Day

Ethena (ENA)

ENA is Ethena Protocol’s native token that has experienced a massive 51% increase in the last 24 hours. The token is priced at around $0.59, with its market capitalization currently standing above $3.76 billion, and there has been a 68% increase in its trading volume.

The Ethena price has been following a rising channel since July 24th, peaking at higher highs three times till now. If the utility crypto follows the same level, it can easily reach a new high around the $0.67 mark by the end of the day.

The reasons for this token’s growth are manifold. For one, it was just recently listed on Upbit, South Korea’s largest cryptocurrency exchange, which led to its early 19 to 20% rally. Other reasons are its USDe offering, which is a crypto-native synthetic stablecoin.

Ethena’s price action has led some analysts to predict that it could soon reach past the $1 mark, and could even be targeting $1.2.

Described as a “holy grail” of internet money, Ethena is a multi-faceted ecosystem known primarily as a stablecoin issuer. Thanks to attributes such as weekly proof of reserves, real-time backing sets, and monthly custodian attestations, this utility crypto could experience more growth as time goes on.

Pudgy Penguin 

The biggest gainer of the day according to CoinMarketCap is Pudgy Penguin. This penguin-themed meme coin has also experienced a double-digit increase in the last 24 hours. With its current market capitalization being $2.66 billion, it is priced around $0.04.

Pudgy Penguin has been on the top-gainer chart for many consecutive days, thanks to it moving up in value consistently since June 23.

Since establishing an uptrend, the PENGU price has surged by over 466% before the recent correction. And if past patterns are taken into account, it is likely that this correction will lead to a consolidation phase, followed by another surge.

Due to the massive growth this meme coin has been experiencing, many crypto enthusiasts have likened it to Dogecoin. To them, PENGU could be the “Dogecoin of 2025.”