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 Rain's $4.81B in its place gives $2.1110 per M.
A 2.03x 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.
$2.1110 per M. That is Rain's current market capitalisation of $4.81B divided across the 2,280,838,591 M in circulation.
2.03x. MemeCore trades at $1.0408 today and Rain's market cap is $4.81B against MemeCore's $2.37B.
No. It is one division: Rain'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 $4.81B of market cap spread over more coins gives a lower price per coin. This uses the 2,280,838,591 M in circulation now.