Step 1: Understanding the Concept
Crick's wobble hypothesis says that the third base of a codon pairs loosely with the first base of the anticodon.
Step 2: Effect
Non-standard pairs such as G-U are allowed, so one tRNA can read more than one codon for the same amino acid.
Step 3: Link to the genetic code
This explains why most amino acids are coded by more than one codon, which is the degeneracy of the code.
Final Answer:
The wobble hypothesis explains the degeneracy of the genetic code.
\[ \boxed{\text{(D) }\text{Degeneracy of genetic code}} \]