Arithmetic on today's supply, not a forecast. It assumes nothing about whether TRON could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. TRON has 94,957,028,744 TRX in circulation at $0.3394 each, which is $32.23B. Holding that supply still and putting Dogecoin's $14.53B in its place gives $0.15306398 per TRX.
TRON is already worth more than Dogecoin. Moving to the smaller cap would take TRX down to $0.15306398, which is 0.451x 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 TRX at that level, which is the part that actually decides a price.
$0.15306398 per TRX. That is Dogecoin's current market capitalisation of $14.53B divided across the 94,957,028,744 TRX in circulation.
0.451x. TRON trades at $0.3394 today and Dogecoin's market cap is $14.53B against TRON's $32.23B.
No. It is one division: Dogecoin's market capitalisation spread over the supply of TRX that exists today. It assumes nothing about whether TRON 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 $14.53B of market cap spread over more coins gives a lower price per coin. This uses the 94,957,028,744 TRX in circulation now.