Bonk (BONK), a meme coin, is currently consolidating after a price spike, with analysts suggesting it may be poised for a new All-Time High (ATH) at $0.00006. Utilizing Elliott Wave theory, the price chart indicates a healthy correction and potential upward momentum, with predictions of reaching above $0.0001 in the future. Analysts believe this dip presents a buying opportunity, as Bonk's price movements show similarities to Bitcoin's historical patterns.