The legal saga surrounding Terraform Labs founder Do Kwon may see yet another twist. PANews, a prominent media outlet in Asia specializing in the blockchain and fintech industries, reported on Monday that the High Court in Montenegro’s capital, Podgorica, has indicated the possibility of another reversal in the extradition decision of Terraform Labs founder Do Kwon to the United States.

According to Digital Asset, Marija Rakovic, a public information officer at the High Court, remarked that the Court of Appeals had previously overturned the High Court’s decision on Do Kwon’s extradition twice. She noted, “The Court of Appeals may once again overturn the High Court’s decision to extradite Do Kwon to the United States if he re-appeals the recent extradition decision.”

Rakovic emphasized that their intention is not to predict the Court of Appeal’s decision but to acknowledge the possibility of such an event.

Do Kwon’s Battle Against US Extradition

This development follows the High Court of Montenegro’s ruling a few days ago, favoring Do Kwon’s extradition to the US over South Korea. This decision was in response to charges against Kwon and Terraform Labs for violating US law by failing to register two digital currencies that collapsed in 2022. The US trial has been delayed to March 25 to accommodate the extradition process.

Do Kwon’s legal battle has captured global attention after his $40 billion digital asset project, including the TerraUSD stablecoin and its sister token Luna, collapsed, resulting in significant investor losses. Estimates by blockchain analytics firm Elliptic suggest that investors in TerraUSD and Luna lost approximately $42 billion.

Despite Kwon’s insistence that neither he nor his company profited from the crash, his prior remarks and a tweet expressing heartbreak over the pain caused have been widely scrutinized.

The situation escalated when South Korea issued an international arrest warrant, followed by an Interpol “red notice.” Kwon’s whereabouts became a subject of speculation after authorities in Singapore were unable to locate him. However, in March 2023, Kwon was arrested in Podgorica, Montenegro, alongside Terraform Labs’ former finance officer, Han Chang-joon, for using forged documents. Both South Korea and the US have sought his extradition.

Following a prison sentence in Montenegro for using fake travel documents, the decision was made to extradite Kwon to the United States rather than South Korea. As the legal proceedings continue, the international crypto community watches closely, awaiting the final resolution in the complex legal saga surrounding Do Kwon and the fallout from Terraform Labs’ collapse.

At press time, Terra Luna Classic (LUNC) traded at $0.000125078.

Dogecoin has been in the spotlight lately after a notable uptick in the usage of its network over the last month. However, this adoption has not translated to any notable increase in the asset’s price, prompting speculations of a delayed breakout for the meme coin.

Crypto Analyst Says Dogecoin Could Breakout Soon

Even as Dogecoin continues to put on a lackluster performance, it has not shaken the bullishness of investors. One of the analysts who believe that the DOGE price is destined for great things is crypto analyst Ali Martinez, popularly known as Ali_Charts on X (formerly Twitter).

According to an analysis shared by Ali on X, the meme coin may be looking to stage a repeat of the parabolic breakouts seen over the years. The crypto analyst points out that Dogecoin is mirroring past performance, and the patterns are beginning to line up to the months leading to the previous breakouts.

The first instance of this breakout happened between 2017 and 2018 when there was an enormous rally after 97 bars and 679 days, as outlined by the analyst. During this time, the price of DOGE would rise by more than 8,000% before the rally was over.

The next time a similar rally would occur was between 2020 and 2021. In the same vein, there were 97 bars and 679 days between the previous rally and the next one. This time around, DOGE would go on to stage an even larger rally, rising more than 23,000% to reach its current all-time high of $0.7.

Now, the analyst points out that Dogecoin has almost reached the infamous 97 bars and 679 days once more, which could end in a massive rally. If this holds, then the DOGE price could break out in April when this pattern would complete, and the DOGE price could rise over the $3.5 level as a result.

DOGE Price Could Rally As High As $10

This is not the first that the crypto analyst is pointing out the possibility of a Dogecoin parabolic rally. In an analysis that was posted last week, the analyst also pointed out that the DOGE price was following patterns similar to what was seen back in 2020 before the infamous rally.

He points out a descending triangle that forms over two years, appearing once more. This same descending triangle was also seen before the DOGE price had risen from less than $0.003 to over $0.7 in a matter of months.

In this analysis, Ali points out that if Dogecoin were to go on a similar rally, then the price of the meme coin could rise as high as $10. “Having broken out of a descending triangle, it’s now in a consolidation phase, potentially setting the stage for another significant bull run,” the crypto analyst said.