The notion of semantic wave is of great value to systemic functional linguistics (SFL), but related studies are only confined to the level of context and discourse semantics in relation to text. This paper intends to explore the lexicogrammar of semantic wave in terms of the fractal principle within SFL. It is found that the distinctive construals of different complexities at different fractal levels can be characterised in terms of transcategorization, rankshift, grammatical condensation, semantic expansion, lexical realization and grammatical realization; semantic wave therefore can be realized at different semantic environments, namely, by serial logic expansion at the order of sequence, by nuclear configurations of participant, process and element within a figure and by degree of involvement in element in the process of figuration.