Pepe's market cap is close to Shiba Inu, and analysts say it may overtake it before April 2026.

As the Meme coin sector heats up again, Pepe (PEPE) is being increasingly viewed by analysts as a direct challenger to Shiba Inu (SHIB). Cryptocurrency analyst Y00thereum recently stated that driven by a recent strong rally, Pepe’s market cap is expected to surpass Shiba Inu before April 20, 2026, attracting significant market attention.

Data shows that PEPE surged over 60% last week, while SHIB’s increase during the same period was about 22%. Y00thereum believes this clear performance gap reflects stronger current capital inflows and market momentum for Pepe. He pointed out that at the current pace, PEPE’s market cap could rapidly close the gap with SHIB in the coming months, potentially even overtaking it ahead of schedule.

Looking at market cap structure, the gap still exists. As of recent data, Shiba Inu’s market cap is approximately $5.1 billion, while Pepe’s is about $2.9 billion. To achieve parity, PEPE still needs to increase by about 1.8 times. Analysts estimate that if PEPE’s price rises to $0.00001266, its market cap would approach $5.3 billion, roughly comparable to SHIB. In the context of active meme coin trading, this goal is considered achievable.

However, Shiba Inu’s long-term advantages should not be overlooked. Since 2021, SHIB has consistently maintained its position as the second-largest meme coin, often holding its rank in competition. Even when briefly surpassed by other emerging meme coins in early 2025, SHIB quickly regained its leading position. Several analysts previously predicted that Pepe would replace SHIB, but none succeeded.

Currently, PEPE’s upward trend has reignited market expectations. Supporters believe that as community enthusiasm, trading volume, and social discussion levels rise simultaneously, Pepe is in a critical window. Y00thereum emphasizes that meme coin markets often exhibit phase-based explosive growth; once capital floods in, market cap rankings can change rapidly.

Overall, Shiba Inu remains a stable representative in the Meme coin sector, while Pepe is seen as a high-volatility, high-elasticity potential challenger. As the meme coin market continues to warm in 2026, whether PEPE can truly surpass SHIB’s market cap before April will be a key focus for investors.