Penguin Pals ($PALS) on Base chain shows a notable concentration concern: approximately 78% of token supply is distributed across just 23 insider wallets. This level of early holder concentration raises questions about project decentralization and token distribution fairness. The data reveals a significant gap between insiders and broader community participation, which is worth monitoring for anyone tracking emerging projects. Such high insider ownership percentages typically merit careful evaluation before participation, as they can impact price stability and future token dynamics once trading becomes more active.