How is altcoin market capitalization determined?

Could you elaborate on the process of determining altcoin market capitalization? Is it a simple matter of multiplying the number of coins in circulation by their current price? Or does it involve more complex factors, such as liquidity, trading volume, or sentiment analysis? I'm curious to understand the nuances behind this calculation and how it differs from determining the market capitalization of more mainstream cryptocurrencies. Could you break down the key steps and factors involved in arriving at an accurate altcoin market capitalization?