"Safeguarding is a dogwhistle???????"
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It's not a dogwhistle because there's absolutely nothing covert or bigoted about the explicit and realistic argument for the need to safeguard women in vulnerable spaces.

Men are overwhelmingly responsible for violent and sexual crimes. Those crimes are overwhelmingly committed against women. "Transwomen" are men. For the purposes of safeguarding women, it doesn't matter that #notallmen or that men can also be victims of other men; that last is a separate problem and not one that should ever be resolved by compromising women's safety and giving men free access to our vulnerable spaces. Women can't tell which men are or are not imminent threats just by looking at them. A rapist wearing a dress and garish makeup is still a rapist. Women also shouldn't have to run that calculus every time we find ourselves in a vulnerable space just because we want to go to the gym, change in our school's locker room or access crisis shelters. That's how you create a society of hypervigilant, terrorized women. Any society that values women's free and active participation in social life concedes the necessity of casting a wide net and excluding all men, including "transwomen," from these vulnerable spaces. A society that values women's participation in social life makes it illicit for even the smallest slice of predatory men to have the opportunity to menace women.

There's nothing covert or bigoted about recognizing and spelling out that reality, so there is no dogwhistle. The fact that women's reality makes men in dresses uncomfortable doesn't make it a dogwhistle (or any other form of bigotry, covert or overt) either. There is definitely something covert and misogynist about trying to reframe protests against the devaluation of women's safety as malignant bigotry just because it interferes with your euphoria boner though.