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 2,280,838,591 M in circulation at $1.0408 each, which is $2.37B. Holding that supply still and putting NEAR Protocol's $5.86B in its place gives $2.5676 per M.
A 2.47x move is modest, and a coin this far down the table reaching the one above it is the ordinary shape of a cycle, not an outlier.
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.
$2.5676 per M. That is NEAR Protocol's current market capitalisation of $5.86B divided across the 2,280,838,591 M in circulation.
2.47x. MemeCore trades at $1.0408 today and NEAR Protocol's market cap is $5.86B against MemeCore's $2.37B.
No. It is one division: NEAR Protocol'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 $5.86B of market cap spread over more coins gives a lower price per coin. This uses the 2,280,838,591 M in circulation now.