CoinGecko data as of November 11 show that $PEPE is closing the gap with $SHIB in the memecoin rankings. Pepe ($PEPE) has a market capitalization of roughly $2.11 billion, compared with $2.61 billion for Shiba Inu ($SHIB).
How Far $PEPE Is From Overtaking $SHIB
$SHIB's market cap is currently about 1.24 times $PEPE's. If $SHIB's value remains unchanged, $PEPE would need to rise by around 24% to 25% to overtake it.
Other trackers show a similar picture. A press release citing CoinMarketCap data valued $PEPE at about $2.17 billion on November 10, after a 5.3% daily gain. Meanwhile, $SHIB fell 0.7% to about $2.61 billion. Figures vary slightly among data providers because of differences in timing and methodology.
The gap has narrowed over the past year. CryptoTicker reported that, based on CoinGecko market data, $SHIB's market cap lead over $PEPE stood at $3.00 billion in October 2025 and has since shrunk to $1.06 billion. The report also said $SHIB lost 50.1% of its market capitalization over the 12 months, compared with 35.6% for $PEPE.
Momentum and Trading Volume Favor $PEPE
Over the past 30 days, $PEPE has gained roughly 19%, while $SHIB and other leading memecoins have declined. Benzinga reported that Dogecoin and Shiba Inu fell 18% over the past month, while Pepe rose 33%, though that figure covers a different measurement window.
$PEPE is also trading at a much higher volume. Its 24-hour volume is about $696 million, versus roughly $51 million for $SHIB. Benzinga noted that one trader warned that $PEPE's weekly Stochastic RSI is nearing overbought territory, which could indicate that momentum is cooling.
Memecoins are highly volatile, so it remains uncertain whether $PEPE will actually overtake $SHIB. A 24% to 25% move is substantial, but not unusual for the sector over short periods; $SHIB's price could also move either way. Memecoin prices often react quickly to changes in trader sentiment, and those shifts can reverse just as quickly.
Sources
CoinGecko: Pepe ($PEPE) price and market cap
CryptoTicker: Shiba Inu and $PEPE market cap gap
Benzinga: Dogecoin, Shiba Inu slide as Pepe surges
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