The best replacement for shure sm58 is pg58.

The best alternatives to shure sm58 are rated as following:
★★★★★  pg58
★★★  sennheiser e835
★★★  beta 58
★★  beta58
★★  beta 58a
★★  audix om2
★★  shure beta 58a
★  akg d5
★  sennheiser e935
  shure sm86
  audio technica
  shure beta 58
  sm86
  audix om5
  shure sm57

Your alternative for shure sm58 is not listed? Suggest!
Speaking about shure sm58, one probably shouldn't forget about phantom power.

Other search terms related to shure sm58 and their ratings are:
★★★★★ phantom power
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shure sm58
pg58
sennheiser e835