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The Collaborative International Dictionary of English v.0.48 (gcide)

Hike \Hike\, v. t. [imp. & p. p. {Hiked}; p. pr. & vb. n.
{Hiking}.] [Cf. {Hitch}.]
1. To move with a swing, toss, throw, jerk, or the like.
[Dial. or Colloq.]
[Webster 1913 Suppl.]

2. To raise with a quick movement.
[PJC]

3. To raise (a price) quickly or significantly in a single
step. They hiked gasoline prices twenty cents in less than
a week.
[PJC]

4. (Football) To pass (the ball) from the center to the
quarterback at the start of the play; to {snap} (the
ball).
[PJC]