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.”
Most are very bullish on PENGU, saying that this could grow further. As for why the meme coin has been surging, whale accumulation is to blame. Its NFTs are also fueling demand, since the NFT floor price of Pudgy Penguins NFTs has gone from 10 ETH to 16 ETH.
SPX6900
Popular no-utility meme coin SPX6900 has also managed to capture the community’s attention. The joke token has leveraged its 90s meme aesthetics well, and the current ecosystem has made it a perfect breeding ground for more memes. As a result, there has been a massive uptick in its price in the last 24 hours.
Currently priced above $2, SPX6900 has gone up by 14% in the last 24 hours. This surge has been a continuation of its rising channel that began on June 21.
SPX6900 could be described as a true degen crypto, with a wild take on memes and a complete focus on community.
SPX6900’s Twitter account has been suspended, but that hasn’t stopped the community from posting memes, with many humorously saying that it is the next Bitcoin.
New Meme Coins With the Potential To Become Top Gainers One Day
Most cryptos that have gone on the top gainers list are meme coins, and there are a few meme coin ICOs with similar potential.
TOKEN6900
One can say that TOKEN6900 rips off SPX6900. However, going deep into its degen-focused narrative and brainrot comedic memes shows that it wants to do better than SPX6900. It has exactly one more token than SPX6900 in terms of total supply, and it piggybacks on SPX6900’s aesthetics.
However, from everything that can be read on the official website, it has deliberately done so. It leans into the jokes and says researching fundamentals when trading is a waste of time. This “go with the flow” and degen attitude has allowed it to gain a massive following.
Furthermore, it has raised upwards of $1.1 million already, showcasing the community’s willingness to dive into its offerings.
Major crypto YouTubers have also given insights into its high potential as a community-centric meme coin.
Bitcoin Hyper
Bitcoin Hyper leans into the narrative that the traditional Bitcoin is lacking in substance. And it’s true, though, since Bitcoin’s “store of value” appeal is the only reason institutions are interested.
Bitcoin Hyper aims to change the paradigm by providing another robust ecosystem where Bitcoin could have utility.
Implementing an L2 scaling solution through a combination of the Lightning Network, Solana Virtual Machine, and a Canonical Bridge, it envisions a version of Bitcoin capable of handling smart contracts.
Through L2 scaling, Bitcoin Hyper devs believe that Bitcoin’s value could grow further, and it may not be just a speculative asset anymore.
Given that Bitcoin Hyper has raised over $4 million in its ICO already, it has the potential to become a top gainer once it goes live.
The crypto has also made it to the top charts of many YouTubers’ “best crypto presales” list.
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