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 UNUS SED LEO's $8.33B in its place gives $0.04863197 per DOGE.
Dogecoin is already worth more than UNUS SED LEO. Moving to the smaller cap would take DOGE down to $0.04863197, which is 0.573x 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.
$0.04863197 per DOGE. That is UNUS SED LEO's current market capitalisation of $8.33B divided across the 171,357,000,922 DOGE in circulation.
0.573x. Dogecoin trades at $0.08482 today and UNUS SED LEO's market cap is $8.33B against Dogecoin's $14.53B.
No. It is one division: UNUS SED LEO'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 $8.33B of market cap spread over more coins gives a lower price per coin. This uses the 171,357,000,922 DOGE in circulation now.