Large field inflation is arguably the simplest and most natural variant of slow-roll inflation. Axion monodromy may be the most promising framework for realising this scenario. As one of its defining features, the long-range polynomial potential possesses short-range, instantonic modulations. These can give rise to a series of local minima in the post-inflationary region of the potential. In this talk, we show that for certain parameter choices the inflaton populates more than one of these vacua inside a single Hubble patch. This corresponds to a dynamical phase decomposition, analogously to what happens in the course of thermal first-order phase transitions. In the subsequent process of bubble wall collisions, the lowest-lying axionic minimum eventually takes over all space. This violent process sources gravitational waves, very much like in the case of a first-order phase transition. We discuss the energy density and peak frequency of the signal, which can lie anywhere in the mHz- GHz range, possibly within reach of next-generation interferometers.