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 PAX Gold's $1.89B in its place gives $0.000003196471 per SHIB.
Shiba Inu is already worth more than PAX Gold. Moving to the smaller cap would take SHIB down to $0.000003196471, which is 0.610x 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.
$0.000003196471 per SHIB. That is PAX Gold's current market capitalisation of $1.89B divided across the 589,891,253,454,886 SHIB in circulation.
0.610x. Shiba Inu trades at $0.00000524 today and PAX Gold's market cap is $1.89B against Shiba Inu's $3.09B.
No. It is one division: PAX Gold'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 $1.89B 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.