No, I think his supporters see the dog whistle too, but in reverse: the "wink" to establishment as the dog-whistle with the message to them as the "real" one. I don't think either interpretation is strictly correct. I don't think President Trump himself has a "canonical" interpretation of these things-- his sentiment is changeable, not ideological or even political.
Okay, maybe your comment is going over my head here, but I need some explanation. I misspell things often enough, but I didn't use the word "sensible" here.
Sorry, just a snarky way to disagree with your reasons. I meant to quibble with your final statement and propose -- "his sentiment is changeable, not ideological or even sensible"
It's interesting that his opponents are the only ones that hear these "dog whistles".