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The $puppies token on Ethereum shows a clear concentration of holdings. On-chain data indicates that 66% of the circulating supply is held by early participants across only 58 wallet addresses. This highly concentrated distribution pattern warrants the attention of traders, as it may suggest certain risks in the project's ownership structure. The token contract address is 0xcf91b70017eabde82c9671e30e5502d312ea6eb2. Users interested in tracking whale movements can monitor the transaction activity of these large holdings in real-time using on-chain tools.