Dogecoin, the popular meme cryptocurrency, finds itself at a critical juncture as market conditions test investor sentiment. Amid a broader market crash, one analyst believes Dogecoin is forming a significant generational bottom, suggesting potential for substantial future gains.

Crypto analyst Johnny Brah recently shared insights on TradingView, highlighting Dogecoin's current technical setup. According to Brah, Dogecoin is historically responsive to the formation of a generational bottom, particularly evident in its "w1 stoch rsi" indicator. This reset signals a period where Dogecoin has previously embarked on parabolic rallies.

Referencing past bull cycles, Brah pointed out that after similar resets in the stochastic RSI, Dogecoin experienced remarkable price surges. For instance, in 2021, following such a reset, Dogecoin surged from approximately $0.003 to an all-time high of $0.7 within five months.

Despite subsequent bearish trends and breaks below key support levels, Brah sees the current reset as a precursor to another potential rally. Should history repeat itself, Dogecoin could surpass its previous resistance levels, including $1 and potentially reach even higher milestones.

Brah's optimistic projections envision Dogecoin breaking above $10 and possibly reaching as high as $20, with an ultimate target of $24. Achieving this peak would signify a staggering 16,500% increase from its current price around $0.14.

However, Brah cautioned that Dogecoin must first navigate through multiple resistance levels, emphasizing the importance of observing how the coin manages its current accumulation phase. Once these hurdles are overcome, Brah believes Dogecoin could enter a sustained bullish trajectory, never revisiting lower levels.

Currently, Dogecoin trades at $0.14 with a recent minor uptick of 2.93% amidst broader market volatility. Over the past week, it has seen a decline of approximately 12.16%, reflecting the challenging market conditions affecting cryptocurrencies globally.

As investors monitor Dogecoin's price action, Brah's analysis underscores the potential for significant upside if the meme coin manages to capitalize on its current technical setup and historical price patterns.