Arithmetic on today's supply, not a forecast. It assumes nothing about whether World Liberty Financial could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. World Liberty Financial has 31,873,722,203 WLFI in circulation at $0.0575 each, which is $1.83B. Holding that supply still and putting Pump.fun's $1.58B in its place gives $0.04944112 per WLFI.
World Liberty Financial is already worth more than Pump.fun. Moving to the smaller cap would take WLFI down to $0.04944112, which is 0.860x 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 WLFI at that level, which is the part that actually decides a price.
$0.04944112 per WLFI. That is Pump.fun's current market capitalisation of $1.58B divided across the 31,873,722,203 WLFI in circulation.
0.860x. World Liberty Financial trades at $0.0575 today and Pump.fun's market cap is $1.58B against World Liberty Financial's $1.83B.
No. It is one division: Pump.fun's market capitalisation spread over the supply of WLFI that exists today. It assumes nothing about whether World Liberty Financial 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 $1.58B of market cap spread over more coins gives a lower price per coin. This uses the 31,873,722,203 WLFI in circulation now.