[stonogo]

4chan has pulled some truly impressive hoaxes, but they are also adept at creating these dog whistles. /r/frenworld was a master class in riding the line between dog whistle and obvious hate speech. Eventually it got banned and the users just moved to /r/honkler and took a lot of the vocabulary with then.

Regardless of what one might think the "correct interpretation" of the cartoon frog might be, actual real-world unapologetic white supremacists have associated themselves with that specific cartoon frog on national television, so the matter isn't limited to some bored pranksters on an image board.