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The synthesis of bimetallic and trimetallic platinum-based octahedral catalysts for the cathode of proton exchange membrane fuel cells (PEMFCs) is a particularly active area aimed at meeting technological requirements in terms of durability and cost. The electrocatalytic activity and stability of these shaped catalysts were tested at relatively high potentials (@0.9 V vs RHE) and at lower current densities using the rotating disk electrode, which is less suitable for assessing their behavior under the operating conditions of PEMFCs. In this work, we use a gas diffusion electrode (GDE) half-cell setup to test the performance of the catalysts under application-oriented conditions, relatively higher current densities, and a square-wave stability test. After the stability test, we analyzed the GDE catalytic layer to study the agglomeration and dissolution of the transition metal under these conditions by using high-resolution scanning electron microscopy and energy-dispersive X-ray spectroscopy. The present results provide valuable guidance for developing next-generation active and durable catalysts for PEMFCs.