It literally means ''past of wake''.
However, it has a different meaning in politics in United States.
In terms of right-wing politics, it means ''following an intolerant and moralising ideology'' or ''social media-fueled, leftwing political ideology.'' It is especially used against corporations that ''virtue signal''.
For the left-wing politics, it means ''alert to injustice in society''. This is the first time it was used in politics, but never been really capitalized that much by the left, until the opposition decided to use it much more frequently as a slang against their opponents.
Left Wing Corporation: We made a rainbow chocolate, we care about our gay customers, only 3.99 if you're opressed minority!
Right Wing Guy: Get woke, go broke!