PEPE hit an all-time high (ATH) of $0.058518 in the early hours of UTC today.

Since then, the third-largest meme coin by market capitalization has retreated approximately 15% and is changing hands at $0.057456 at the time of writing.

PEPE has had a monumental month. In the last thirty days it shot up 723.7%.

These gains were distributed throughout the entire month, adding 533.1% in the last fortnight and the last seven days representing a price appreciation of 248.3%.

The only other meme coin among the largest by market capitalization that rallied more strongly in the last seven days was Shiba Inu (SHIB). Shib rallied 281.1% to currently trade at $0.00003991.

Generally speaking, this month's meme coin rally came on the back of a market-wide rally.

While everyone FOMO's PEPE's ATH, check out SPONGE!

With delicious rallies all month long, it's a valid question if meme coins are worth investing in. Cryptocurrencies are already highly speculative and can also be quite volatile.

The short answer is that every investor must do their homework.

The promise of buying tokens on the blockchain is similar to the promise of buying shares in a company. Each investor must be sure that the project they support is good or useful.

However, meme coins often offer little value outside of their cultural capital, which rises and falls along with the popularity of the underlying meme.

Dogecoin (DOGE) is a classic only because it has first-mover advantage and originality on its side. As a store of value, Bitcoin far surpasses it, and as a commercially important blockchain, it has nothing to do with Ethereum. It relies mainly on its brand.

A token that offers more than just laughs is SPONGE. In addition to being the most popular new meme currency, it is also the basis of an ecosystem with utility.