(I’m using the terms Left and Right here to simplify things)
Around 7 years ago, 2015-ish, among black Americans, stay woke meant stay alert to police brutality or racist tactics and behavior. It had that meaning for a while before but it had become more widespread by then. Then well-meaning whites, some blacks, on the Left got wind of it and started using it to mean, be politically aware and involved with all social justice issues. Educate yourself and don’t let fascists get away with shit. Fine. The word was co-opted and expanded but being “woke” to racial and social injustices is still a good thing. But then young people on the Left, esp at universities, starting acting overly insensitive, intolerant, and self-righteous, calling out and “cancelling” those they perceived as not woke (or woke enough). This led to an “anti-woke” backlash from the Right, and from those on the Left who were woke to this kind of annoying wokeness (like moi). So the Left started abandoning the term and now it’s mostly used by the Right as derogatory.
Here’s the thing, the Right mixed the annoying wokeness with every good anti-fascist or social justice thing the Left promotes because the Right (in power in the US, at least) pretty much have a fascist or racist agenda. So it’s become a rallying cry for the right wing to dismiss any objection to their fascist or racist shit as woke nonsense. Ironic, because the Right wants to cancel everything Left.
Now, I’ll sometimes use “the woke” to describe these cancel culturalists on the Left (spoiled millennials with purple hair), just because that behavior hurts the very causes we support IMO, and the word is as good as any to describe this real kind of person or behavior. But since the Right has co-opted it maybe I need to find a new term. I’ve got it, “the annoying, overly-sensitive, naïve fascists on the Left.”
Take Defund the Police. Most people meant fix them in various ways, re-fund them differently and better., etc. But some meant and said, yes, we mean get rid of police totally. This just plays into the hands of the Right and alienates mainstream liberals (people concerned with justice but without purple hair). But when I make this argument to these people, they say I’m a co-opted part of the status quo (just look at your brown hair). No, I’m an independent thinker who can think. But there’s no measure of moderation for them, no mitigating factors. You can’t be woke enough, meaning intolerant and judgmental enough. Obviously, wrong.
Meanwhile, black people, stay woken (in the original sense).
Unfortunately, it seems to be happening globally where neoliberalism has its reach. 
