Ultrasonic cavitation involves dynamic oscillation processes induced by small bubbles in a liquid under the influence of ultrasonic waves. This study focuses on the investigation of shape and diffusion instabilities in two bubbles formed during cavitation. The derived equations for two non-spherical gas bubbles, based on Perturbation theory and the Bernoulli equation, enable the analysis of their shape instability. Numerical simulations, utilizing the modified Keller-Miksis equation, are performed to examine the shape and diffusion instabilities. Three types of shape instabilities, namely Rayleigh-Taylor, Rebound, and parametric instabilities, are observed. The results highlight the influence of initial radius, distance, and perturbation parameter on the shape and diffusion instabilities, as evidenced by the R
0-Pa
phase diagram and the variation pattern of the equilibrium curve. This research contributes to the understanding of multiple bubble instability characteristics, which has important theoretical implications for future studies in the field. Specifically, it underscores the significance of initial bubble parameters, driving pressure, and relative gas concentration in determining the shape and diffusive equilibrium instabilities of non-spherical bubbles.