The cryptocurrency market is once again captivated by speculation surrounding Elon Musk’s potential influence on a meme coin. This time, it’s Vine Coin (VINE), a token linked to the long-defunct Vine app,

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 .

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.

Pennies cost more than 3 cents each to make, which has the little round Lincoln heads in the crosshairs of Elon Musk’s new Department of

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,