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Elon Musk’s Department of Government Efficiency, aka DOGE, aims to start trimming trillions in federal spending with an unlikely plan to get the ball rolling.

In a tweet on Tuesday, DOGE — an agency formed by the Trump administration — pointed out how it costs the U.S. Mint about 3 cents to make each penny—yet it’s only worth 1 cent. Taxpayers shoulder most of the costs, roughly $179 million in FY2023, to mint 4.5 billion pennies, the agency claimed.

The penny costs over 3 cents to make and cost US taxpayers over $179 million in FY2023.The Mint produced over 4.5 billion pennies in FY2023, around 40% of the 11.4 billion coins for circulation produced.Penny (or 3 cents!) for your thoughts.Sources:https://t.co/Y5LlrpyA62…

— Department of Government Efficiency (@DOGE) January 22, 2025

Are the penny’s days numbered?

But the penny isn’t alone in its expensive ways—minting a nickel costs 14 cents, and with zinc prices soaring, the penny’s production costs have only risen, now topping 3.7 cents per coin, CBS News reported, citing the U.S. Mint’s 2024 data.

The U.S. wouldn’t be breaking new ground if it were to halt penny production. Canada stopped minting its one-cent coin in 2012. The decision was made due to the high cost of producing pennies. At the time, it cost about 1.6 cents to produce each penny, while the coin’s face value was just one cent.

To replace pennies in cash transactions, prices were rounded to the nearest five cents. This rounding practice applied to cash payments, but electronic payments were not affected.

Meanwhile, Musk is reportedly planning to reduce government expenses by integrating Dogecoin (DOGE) — the joke token that inspired the name of his cost-cutting agency — into federal operations.

You might also like: Elon Musk wants to bring Dogecoin back to Tesla merch page

But here’s the thing…

The cost to mine Dogecoin can exceed its market value, too. Various factors, like electricity costs and mining hardware efficiency, can make mining a meme coin pricier than the token could be worth.

Like Bitcoin, mining Dogecoin is energy-intensive, even though some miners use less resource-heavy tech compared to Bitcoin’s SHA-256. That said, in regions with expensive electricity, the cost to mine a Dogecoin may be higher than its current value.

Older or less efficient hardware could also make DOGE mining cost more than it’s worth at current prices.

Plus, unlike pennies and nickels, Dogecoin has little to no utility and its market value is often volatile. When the price is low, the cost of mining may exceed the revenue generated from mining. This cause some miners to halt operations.

Conversely, during periods of price surges, mining becomes more profitable.

Ultimately, the economics of mining any cryptocurrency is highly variable, influenced by local conditions and market trends.

Read more: Official Trump meme coin price crashes as whales dump

The Official Trump price plummeted 11% in the last 24 hours to trade at $40.83 as of 9:56 p.m. EST on trading volume that dropped 32% to $3.7 billion.

Official Trump Price On A Sustained Bearish Stance

The TRUMP price has been experiencing a consistent downtrend following its peak around the $73 mark. After a sharp rally earlier in the week, the Official Trump price failed to maintain its upward momentum and began a steady descent.

The chart highlights a falling channel pattern, indicating that the asset is stuck in a bearish pattern, with each attempt at recovery met by selling pressure near the channel’s upper trendline.

The price of TRUMP currently hovers at $28.29, testing the lower boundary of the channel. As a result of the continued downtrend, the Official Trump price now trades below both the 50-day and 200-day Simple Moving Averages (SMAs), which now act as the immediate resistance levels at $32.75 and $37.0, respectively.

The Relative Strength Index (RSI) is at 27.28, firmly in oversold territory (below 30). This suggests that the asset is significantly oversold, and a potential short-term bounce or consolidation might be on the horizon.

TRUMP/USDT Chart Analysis (Tradingview)

TRUMP Price Prediction

Based on the current chart setup and indicator readings, TRUMP is likely to remain in the bearish zone in the short term. If the Official Trump price breaks below the lower trendline of the descending channel (around $28), it could see further downside, with immediate support near $25.

On the other hand, if the RSI continues to signal oversold conditions and the price manages to bounce, resistance at the 50-day SMA ($32.75) and the channel’s upper boundary could cap any recovery attempts. A breakout above $33 would be necessary to challenge the more significant resistance at $37 (200-day SMA).

As the TRUMP price plummets, investors are also buying into the presale meme coin Flockerz (FLOCK) before time runs out.

According to 99Bitcoins, a popular crypto channel on YouTube with over 722K subscribers, FLOCK has the potential to soar 100X after its launch.

Flockerz Offers Last Chance To Buy Before Listing In 2 Days

Flockerz has wrapped up its hugely successful presale and is now offering a final chance to buy before it lists on exchanges on Monday.

Investors are racing to get involved and have pumped $13.4 million into Flockerz already. A key part of its appeal is its unique approach to community governance.

The $FLOCK flies in with a @coinmarketcap PRELISTING

Go get bullish with The Flock!!https://t.co/9Fp9HUJGY2 pic.twitter.com/zhov2ngmxg

— Flockerz (@FlockerzToken) January 24, 2025

Its standout feature, the Vote-to-Earn (V2E) system, allows community members to earn $FLOCK tokens by participating in important decisions about the project’s future. All they have to do is vote on key decisions to earn FLOCK tokens for their effort.

The underlying framework of Flockerz is anchored in a decentralized autonomous organization (DAO) called Flocktopia, where every holder’s voice matters.

Apart from V2E rewards, users can also earn passively through the platform’s staking mechanism, which offers a sky-high annual yield of 240%.

Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens at the current price of $0.0066883 each using BNB, ETH, USDT, or a bank card.

Buy FLOCK here.

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