X will take one step closer to becoming an "everything app," but despite ample speculation, there's no sign of Dogecoin in the plans yet.

Elon Musk has promised to find upward of $2 trillion in savings in a federal budget that is projected to spend $7 trillion in 2025 — and if he has to rifle through the nation’s couch cushions to do so,

Musk isn’t introducing a novel idea. For years, people have advocated eliminating the penny, as pennies are rarely spent as change. And since the Covid-19 pandemic, more consumers are shopping online or avoiding physical currency altogether .

Donald Trump is in office, and he has signed an executive order to create DOGE – the Department of Government Efficiency — with Elon Musk leading the way. The purpose of DOGE is, supposedly, to cut away the excess spending in government, and there are a lot of programs and job positions that have reportedly already been added to the chopping block.

Musk’s favored meme coin remains Dogecoin. While he has promoted other tokens in the past, this has led to short-term price increases – such as with Peanut the Squirrel (PNUT). However, these surges are often followed by subsequent price drops.

Elon Musk’s cost-cutting unit hasn’t yet made any announcements about what sort of suggestions it will make. That’s not to say there hasn’t already been plenty of drama surrounding the department. Co-chair Vivek Ramaswamy left DOGE before its official launch amid reports of tension with Musk,

A penny-pinching tactic proposed by Elon Musk's Department of Government Efficiency could be getting rid of the penny itself.