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1.
When one has put off doing the laundry so long that you have run out of socks. At this point, you have hit sock bottom.

You may have either "reached" sock bottom, "be at" sock bottom, or (more commonly) "hit" sock bottom.
Time to do the laundry; I've hit sock bottom.
by BorelliWords April 04, 2011
 
2.
When on tour or traveling, you use the last pair of socks in your luggage and all the socks left are smelly.
Touring during the summer is the worst. I only made it to San Francisco before I hit sock bottom.
by 2020Logan July 21, 2011