Arithmetic on today's supply, not a forecast. It assumes nothing about whether Dogecoin could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Dogecoin has 171,357,000,922 DOGE in circulation at $0.08482 each, which is $14.53B. Holding that supply still and putting Cardano's $7.62B in its place gives $0.04446377 per DOGE.
Dogecoin is already worth more than Cardano. Moving to the smaller cap would take DOGE down to $0.04446377, which is 0.524x of what it trades at now.
Supply is held still, and in practice it moves: coins are minted, burned and unlocked, and every one of those changes the price a given market capitalisation implies. The figure also says nothing about whether the money exists to buy DOGE at that level, which is the part that actually decides a price.
$0.04446377 per DOGE. That is Cardano's current market capitalisation of $7.62B divided across the 171,357,000,922 DOGE in circulation.
0.524x. Dogecoin trades at $0.08482 today and Cardano's market cap is $7.62B against Dogecoin's $14.53B.
No. It is one division: Cardano's market capitalisation spread over the supply of DOGE that exists today. It assumes nothing about whether Dogecoin could attract that much money, and it holds the supply still when in practice supply changes.
It sets it. Market cap is price times circulating supply, so the same $7.62B of market cap spread over more coins gives a lower price per coin. This uses the 171,357,000,922 DOGE in circulation now.