SHIB, watch out! PEPE’s 60% rally is making the flip look possible

Just like the broader crypto market, memecoins have struggled since the October 2025 crash. As a whole, the memecoin market has lost roughly $47 billion (65% of the market's value) since the crash. PEPE and SHIB have also been hit by the bear market. Using September 30, 2025, as the baseline, PEPE has lost roughly $1.58 billion in market cap, dropping from $3.84 billion to $2.26 billion. Meanwhile, SHIB has lost roughly $4.45 billion as it fell from $7.05 billion to $2.60 billion. To put this into perspective, PEPE’s market cap has fallen 40%, while SHIB's has fallen 60%. With this increasing performance gap, many are speculating that PEPE will overtake SHIB soon. However, the key question is whether PEPE is showing stronger momentum or simply benefiting from SHIB's weakness.

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