I always assumed the 'Pennywise Lives' graffiti was a remnant from the last awakening of Pennywise. As to the plaque itself, it might be a 'universe off' (like in the dark tower series) where the events of IT are known, or at least memorialized, or the plaque is only visible to people connected to the supernatural (like how EVERYONE in Derry couldn't see IT if IT didn't want them to).
IT is dead. Really, most sincerely dead.



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