Arithmetic on today's supply, not a forecast. It assumes nothing about whether Shiba Inu could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Shiba Inu has 589,891,253,454,886 SHIB in circulation at $0.00000524 each, which is $3.09B. Holding that supply still and putting NEAR Protocol's $3.02B in its place gives $0.000005117772 per SHIB.
Shiba Inu is already worth more than NEAR Protocol. Moving to the smaller cap would take SHIB down to $0.000005117772, which is 0.977x 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 SHIB at that level, which is the part that actually decides a price.
$0.000005117772 per SHIB. That is NEAR Protocol's current market capitalisation of $3.02B divided across the 589,891,253,454,886 SHIB in circulation.
0.977x. Shiba Inu trades at $0.00000524 today and NEAR Protocol's market cap is $3.02B against Shiba Inu's $3.09B.
No. It is one division: NEAR Protocol's market capitalisation spread over the supply of SHIB that exists today. It assumes nothing about whether Shiba Inu 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 $3.02B of market cap spread over more coins gives a lower price per coin. This uses the 589,891,253,454,886 SHIB in circulation now.