A lot vs. Alot: 9 Grammatical Pitfalls
1919, American English, from Pennsylvania German dunke "to dip," from Middle High German dunken, from Old High German dunkon, thunkon "to soak," from PIE root *teng- "to soak" (see tincture).
Basketball sense is first recorded 1937 as a verb, 1971 as a noun (earlier dunk shot). German-American Anabaptist sect of Dunkers (who baptize with triple immersion) first recorded by that name 1756.
[fr Pennsylvania German dunken, ''dip'']