When a meme coin first drops, the early hours are crucial for reading the price action. Pull up your 15-minute and hourly charts within the first day—you'll spot Elliott Wave patterns 1 through 5 forming in real time.

Here's where it gets tricky: once Wave 5 completes, the coin runs into a wall. Buying pressure weakens, sellers start taking control, and new highs become increasingly difficult to achieve. Watch for that ascending wedge pattern—it's your signal that momentum is fading. The market structure tightens, and when it finally breaks, the move can be sharp.