Tokens inspired by “efficiency” have become quite an expensive mess for investors.

Meme coins named after the nascent Department of Government Efficiency — an early-stage agency devoted to cost-cutting measures under the incoming Trump administration — plummeted Sunday.

One DOGE token, which formed in 2024 as a satirical take on government spending and bureaucracy, experienced a sharp 18% drop in value over the past 24 hours. See one trajectory below.

Another version of the coin, sporting a logo of a dog wearing a MAGA-like hat, also landed in the red at last check on Sunday, dropping by 20%.

The real DOGE — the actual coterie of business leaders set to eliminate bureaucratic waste — has sparked both intrigue and skepticism.

The agency, to be co-led by billionaires Elon Musk and Vivek Ramaswamy, initially boasted that it could slash $2 trillion from the federal budget. This week, however, Musk revised his estimate, describing $1 trillion in cuts as “an epic outcome.”

Speaking on X, which he owns, Musk explained his vision: “If we try for $2 trillion, we’ve got a good shot at getting one. That would free up the economy, reduce inflation, and be, well, epic.”

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Author: Anthony Patrick