These Are the Three Biggest Altcoin Gainers in July | Credit: Veronica Cestari
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Key Takeaways
Pudgy Penguins (PENGU) increased by more than 150% in July.
Conflux (CFX) reclaimed a long-term range and hit resistance.
Ethena (ENA) has completed wave A in an A-B-C correction.
July of 2025 was a standout month for altcoins, with several cryptocurrencies seeing dramatic increases and the falling Bitcoin Dominance confirming that altseason has started.
Pudgy Penguins (PENGU) led the charge with a massive rally, while Conflux (CFX) and Ethena (ENA) were not far behind.
Let’s examine their charts and see if they can repeat the performance in August.
PENGU Nears All-Time High
The PENGU price went on a tear in July, leading all altcoins and rallying by more than 160%.
PENGU’s rally started on June 23 (green icon), marking the start of wave three in a five-wave increase (black).
Wave three extended, reaching 2.61 times the length of wave one. The move led to a new all-time high of $0.047 during Pudgy Penguins’ fourth birthday.
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However, the PENGU price has fallen since the high, mired in a corrective movement.
A bearish divergence in the Relative Strength Index (RSI) preceded the decline, and the Moving Average Convergence/Divergence’s bearish cross (black circle) confirmed the trend.
The wave count suggests the decline is part of wave four in a five-wave upward trend (black).
However, this was not the case. The exact opposite happened: the Conflux price reclaimed the range low amidst a massive bullish candlestick in July (green icon).
While CFX reached a high of $0.279, it failed to sustain its rally. Instead, it created a long upper wick (red icon) and confirmed the top of the range at $0.25 as resistance.
Despite its decline, momentum indicators are still bullish. The Relative Strength Index (RSI) is above 50, and the Moving Average Convergence/Divergence (MACD) is positive.
Because the breakout follows a five-wave decline, it is likely in wave A of an A-B-C correction. If so, ENA is now correcting in what is likely wave B.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
