$76B Hyperliquid vs $102M Meme Coin: What's Behind Crypto Market Valuations?

The fully diluted valuation of Hyperliquid reached $76.5 billion on September 11, 2026, while its circulating market capitalization stood at $17.8 billion.

CASHCAT, a meme coin, rallied more than 1,200% after launch and topped $100 million in market capitalization within days without official endorsement from Robinhood Markets itself.

Fully diluted valuation multiplies the current token price by the maximum total supply, creating inflated figures that obscure the real circulating value available for trading in markets.