Arithmetic on today's supply, not a forecast. It assumes nothing about whether Pepe could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Pepe has 416,987,203,264,011 PEPE in circulation at $0.00000496 each, which is $2.07B. Holding that supply still and putting Rain's $4.81B in its place gives $0.000011546997 per PEPE.
A 2.33x 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 PEPE at that level, which is the part that actually decides a price.
$0.000011546997 per PEPE. That is Rain's current market capitalisation of $4.81B divided across the 416,987,203,264,011 PEPE in circulation.
2.33x. Pepe trades at $0.00000496 today and Rain's market cap is $4.81B against Pepe's $2.07B.
No. It is one division: Rain's market capitalisation spread over the supply of PEPE that exists today. It assumes nothing about whether Pepe 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 416,987,203,264,011 PEPE in circulation now.