price of anything depends on supply and demand BUT only the circulating supply is important. circulating supply is a supply that can be accessed by anyone and not just be locked up somewhere in one person's (aka the creator's) wallet.

to answer your question, if the "circulating supply" of an altcoin is 1 billion then it is highly unlikely that the said altcoin's value goes above $1, and if it does it would be considered a bubble even if it stays there. $100 could be considered impossible.

if the "circulating supply" is small but the "fake supply" is 1 billion then the real value should be speculated based on that real circulating supply.
for example XRP has fake 1 billion supply while only a smaller percentage of it is actually in circulation instead of being locked up in Ripple foundation pockets. but since the circulating supply is also big and also because the coin is useless its price never really goes up. hence the always low but still among top 10 altcoin's market cap.

but it would be trivial to create an altcoin with 1 billion fake supply where the owner locks up 999.999 million and only releases a tiny portion in circulation and get a very high price and high market cap.