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While it might be a stretch, both 88 and 38 are associated with, among other things, of course, white supremacy.

What is 38 about?

Now, that doesn't guarantee it's being used as a nazi dogwhistle, but adding the 88 to it makes it less likely to be a coincidence.

That is a very long stretch. I've never heard of hammerskins and I spend way too much time in the "bad" parts of the internet.