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.