Dogecoin is at a crucial juncture that will determine whether investors face losses or enjoy gains in the near future. According to one analyst, gains are more likely as Dogecoin appears to be forming a significant generational bottom.

### Dogecoin Forms a Generational Bottom

Crypto analyst Johnny Brah has shared on TradingView that Dogecoin is forming a generational bottom amid a market-wide crash that has pushed its price down to the $0.14 support level. Historically, Dogecoin has responded positively to such bottoms, often leading to significant price rallies.

Brah notes that during previous bull cycles, Dogecoin's price reset on the "w1 stoch rsi." This reset marked a generational bottom and was followed by a dramatic price increase. The last instance of this reset was in 2021, when Dogecoin's price surged from around $0.003 to an all-time high of $0.7 within five months.

Since then, Dogecoin's price has generally trended downward, breaking through multiple support levels. However, with the Stochastic RSI resetting again, another significant rally might be on the horizon, potentially driving the price to new all-time highs.

### Potential Price Surge

If Dogecoin's price follows a similar pattern as before, it could quickly surpass the $1 resistance level. The analyst has even higher expectations, suggesting the price could eventually exceed $10 and possibly reach $20. At the peak of this rally, the price could hit $24, representing an increase of over 16,500% from its current level. Brah cautions that once Dogecoin surpasses the first-quarter resistance, it is unlikely to revisit the $0.10 mark.

Currently, Dogecoin is trading at $0.14, with a 2.93% increase over the past day, though it has seen a 12.16% decline over the past week, according to CoinMarketCap data.