When trying to sleep off a major drunken buzz. this is the act of keeping one leg off the bed/couch/coffeetable and firmly planted on the floor, this causes the room to slow down or stop spinning.
You "Man, I drank so much that I was Dropping an Anchor."
Him "You had to take a shit?"
You "Naw man, had to keep one foot off the bed so the room would stop spinning so I can get some motherfucking sleep"