Arithmetic on today's supply, not a forecast. It assumes nothing about whether MemeCore could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. MemeCore has 2,259,195,457 M in circulation at $1.1821 each, which is $2.67B. Holding that supply still and putting Internet Computer's $1.5B in its place gives $0.66526671 per M.
MemeCore is already worth more than Internet Computer. Moving to the smaller cap would take M down to $0.66526671, which is 0.563x 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 M at that level, which is the part that actually decides a price.
$0.66526671 per M. That is Internet Computer's current market capitalisation of $1.5B divided across the 2,259,195,457 M in circulation.
0.563x. MemeCore trades at $1.1821 today and Internet Computer's market cap is $1.5B against MemeCore's $2.67B.
No. It is one division: Internet Computer's market capitalisation spread over the supply of M that exists today. It assumes nothing about whether MemeCore 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 $1.5B of market cap spread over more coins gives a lower price per coin. This uses the 2,259,195,457 M in circulation now.