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Raydium currently trades at $2.24 with a market cap of $604.60M. Solana's market cap is $64.23B — 106× larger. Here's what that gap means per token:
The implied price is current price × (target market cap ÷ current market cap), holding circulating supply constant. It answers "what if Raydium were valued like Solana" — it does not predict price, and it says nothing about the capital inflow required to get there. For that, PumpMath's volume calculator walks the actual AMM liquidity curve (x·y=k) of Raydium's deepest pool.
At Solana's current market cap of $64.23B, the implied price of Raydium is $237.96 per RAY — 106× its current price of $2.24.
Implied price = current price × (target market cap ÷ current market cap). Raydium's market cap is $604.60M and Solana's is $64.23B, so the multiplier is 106×. The calculation assumes circulating supply stays constant.
Market cap comparisons show relative scale, not likelihood. Reaching a larger market cap requires sustained net capital inflow; the buy volume needed depends on liquidity, which you can estimate with PumpMath's volume calculator.