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PEPE Is Closing In on SHIB in the Memecoin Rankings $PEPE is closing in on $SHIB, according to CoinGecko data as of November 11. PEPE's market capitalization stands at roughly $2.11 billion, while SHIB's is $2.61 billion. SHIB currently leads PEPE by 1.24x. A rise of just 24-25% is needed for PEPE to dethrone SHIB while SHIB remains flat. Over the last 30 days, PEPE has gained roughly 19%, while SHIB, along with other key memecoins, has declined. PEPE also enjoys much higher trading volumes, with $696 million on PEPE versus $51 million for SHIB. Memecoins are highly volatile; hence, the likelihood of a dethroning remains uncertain.

PEPE has had a busy few weeks since mid-October. The appetite for memecoins hasn’t faded, as @pepecoineth ($PEPE), the frog-themed memecoin on Ethereum, has been on the rise for most of the past 30 days. Here are some key developments: [Oct 18] PEPE rose 4.7% after 7.2T tokens moved to a wallet linked to Tron founder @justinsuntron. Arkham later tied nearly 3% of supply to Sun-linked wallets, making him the top individual holder [Oct 22] PEPE gained about 6% as futures trading volume neared $900M [Oct 30] The attacker behind the Binance breach sold 7.77T PEPE, worth about $31.7M, per Lookonchain. The price dipped briefly before buyers absorbed the sale [Nov 9] PEPE rose more than 4% in a single hour PEPE now trades around $0.0000052, up 1.7% in the past 24 hours.