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 156,112,267,546 DOGE in circulation at $0.08472 each, which is $13.23B. Holding that supply still and putting Tether Gold's $2.67B in its place gives $0.01707635 per DOGE.
Dogecoin is already worth more than Tether Gold. Moving to the smaller cap would take DOGE down to $0.01707635, which is 0.202x 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.
$0.01707635 per DOGE. That is Tether Gold's current market capitalisation of $2.67B divided across the 156,112,267,546 DOGE in circulation.
0.202x. Dogecoin trades at $0.08472 today and Tether Gold's market cap is $2.67B against Dogecoin's $13.23B.
No. It is one division: Tether Gold'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 $2.67B of market cap spread over more coins gives a lower price per coin. This uses the 156,112,267,546 DOGE in circulation now.