50mV at full scale, 50A 50mV current shunt would be a 1mΩ resistor, rated to work at 50A within specs, considering self geating and temp range. You can go quite a bit higher but specs are not longer warranted. Then you just measure the voltage across the resistor using some amplification stage or the pga of your adc, adjust your gain so the 50mV refers to the nominal current rating of the resistor. For your scope the same thing, choose X1000 A for my example, or the corresponding probe attenuation, make it show amps or volts directly and know what you are looking.
1N4004 can handle a single pulse of 30A but average currents of 1A, it can't handle 50% duty cycle of your setup. 50% duty will always lead to the same current, no matter if if you manually tweak care of the transient or not.
You could use a current probe if it's just for measuring this time, there are cheaper options, I'm after the Hantek, 40 bux for 65A 20kHz probe seems reasonable. You could get one and you will find it quite handy later if you work in power devices, also safer to probe with those and you obly need to provide a path to clamp to, not adding unnecesary components on the board. There's not much sense in leaving it inside your product, for that a current shunt is the way to go.
JS