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 172,602,113,418 DOGE in circulation at $0.07782 each, which is $13.43B. Holding that supply still and putting Quant's $2.32B in its place gives $0.01347017 per DOGE.
Dogecoin is already worth more than Quant. Moving to the smaller cap would take DOGE down to $0.01347017, which is 0.173x 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.
$0.01347017 per DOGE. That is Quant's current market capitalisation of $2.32B divided across the 172,602,113,418 DOGE in circulation.
0.173x. Dogecoin trades at $0.07782 today and Quant's market cap is $2.32B against Dogecoin's $13.43B.
No. It is one division: Quant'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 $2.32B of market cap spread over more coins gives a lower price per coin. This uses the 172,602,113,418 DOGE in circulation now.