Shiba Inu rose to a two-month high on Sunday, prompting a series of meme posts from the cryptocurrency’s official X account highlighting the token’s continued relevance.

Launched in 2020, $SHIB remains one of the most closely watched meme cryptocurrencies, a category whose trading activity is often shaped by online communities, exchange liquidity, and short-term momentum.

SHIB Responds to Bearish Narratives

The official Shiba Inu X account posted a cartoon depicting a confident Shiba Inu mascot alongside a frightened brown bear, a reference to bear markets.

“Reports of $SHIB’s death were greatly exaggerated,” the account wrote, echoing the well-known quote often attributed to writer Mark Twain.

The account also shared a Forrest Gump running GIF with the caption, “Run it back, world,” in response to a nostalgic post about the memecoin’s earlier global promotion by supporters.

Trading Activity Rises, With South Korean Markets in Focus

The dog-themed cryptocurrency rebounded sharply over the weekend, reaching price levels not seen since May 22. More than $500 million worth of $SHIB changed hands over the previous 24 hours, an 18% increase in trading volume.

Although most of the gains were later surrendered, the move pushed the token’s weekly performance above 22%.

Speculative activity also increased. Open interest in $SHIB futures rose 64% over the week, according to Coinglass. Open interest measures the value of outstanding derivatives contracts and is often watched as an indicator of participation in leveraged trading.

CoinMarketCap data showed that $SHIB saw active trading on South Korean platforms. Upbit recorded higher volume than Binance and Coinbase, while the $SHIB/KRW trading pair registered more than $46 million in volume over the previous 24 hours.

At the time of writing, $SHIB was trading at $0.000005110, down 4.71% over the past 24 hours, according to Benzinga Pro data.