In memecoin trends, you often see the Empire State Building top pattern, which is a wave of extreme highs followed by a pullback, and then a breakthrough to new highs. Look at $PEPE in April 2023 as a typical example — it first surged to an outrageous height, then retraced but continued to set new highs. This pattern repeats itself in altcoins and memecoins, and is not a coincidence. Traders who understand charts can identify cyclical patterns from this, and the key is to patiently wait for the confirmation of the second wave breakout.