Arithmetic on today's supply, not a forecast. It assumes nothing about whether Solana could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Solana has 588,717,764 SOL in circulation at $99.6400 each, which is $58.66B. Holding that supply still and putting Dogecoin's $12.16B in its place gives $20.6606 per SOL.
Solana is already worth more than Dogecoin. Moving to the smaller cap would take SOL down to $20.6606, which is 0.207x 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 SOL at that level, which is the part that actually decides a price.
$20.6606 per SOL. That is Dogecoin's current market capitalisation of $12.16B divided across the 588,717,764 SOL in circulation.
0.207x. Solana trades at $99.6400 today and Dogecoin's market cap is $12.16B against Solana's $58.66B.
No. It is one division: Dogecoin's market capitalisation spread over the supply of SOL that exists today. It assumes nothing about whether Solana 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 $12.16B of market cap spread over more coins gives a lower price per coin. This uses the 588,717,764 SOL in circulation now.