$PEPE is narrowing the gap with $SHIB in the memecoin rankings, according to CoinGecko data as of November 11. 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 that of PEPE. If SHIB's value stays flat, PEPE would need to rise by around 24% to 25% to pass it.
Other trackers show a similar picture. A press release citing CoinMarketCap data put PEPE at about $2.17 billion on November 10 after a 5.3% daily gain, while SHIB slipped 0.7% to about $2.61 billion. Figures differ slightly between data providers because of timing and methodology.
The gap has narrowed over the past year. CryptoTicker reported that, using CoinGecko market data, SHIB's market cap lead over PEPE was $3.00 billion in October 2025 and has since fallen to $1.06 billion. The same report said SHIB lost 50.1% of its market capitalization over the 12 months, against 35.6% for PEPE.
Momentum and Trading Volume Favour PEPE
Over the last 30 days, PEPE has gained roughly 19%, while SHIB and other leading memecoins have declined. Benzinga reported that Dogecoin and Shiba Inu have fallen 18% over the past month, while Pepe has risen 33%, though that figure reflects a different measurement window.
PEPE also trades far more actively. Its 24-hour volume stands at about $696 million, against roughly $51 million for SHIB. Benzinga noted that one trader warned PEPE's weekly Stochastic RSI is approaching overbought territory, which could mean momentum cools.
Memecoins are highly volatile, so whether PEPE actually overtakes SHIB remains uncertain. A 24% to 25% move is large but not unusual for the sector over short periods, and SHIB's price could also move in either direction. Memecoin prices often respond quickly to shifts in trader sentiment, which can reverse just as fast.
Sources
CoinGecko: Pepe (PEPE) price and market cap
CryptoTicker: Shiba Inu and PEPE market cap gap
Benzinga: Dogecoin, Shiba Inu slide as Pepe surges
