From The Collaborative International Dictionary of English v.0.48:
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]
From The Collaborative International Dictionary of English v.0.48:
Hike \Hike\, v. i.
1. To hike one's self; specif., to go with exertion or
effort; to tramp; to march laboriously. [Dial. or Colloq.]
"If you persist in heaving and hiking like this."
--Kipling.
It's hike, hike, hike (march) till you stick in the
mud, and then you hike back again a little slower
than you went. --Scribner's
Mag.
[Webster 1913 Suppl.]
2. to take a long walk, especially for pleasure or exercise.
[PJC]
From The Collaborative International Dictionary of English v.0.48:
Hike \Hike\, n.
1. The act of hiking.
[Webster 1913 Suppl.]
2. A long walk usually for exercise or pleasure or exercise;
a tramp; a march. [WordNet sense 1]
[PJC]
With every hike there's a few laid out with their
hands crossed. --Scribner's
Mag.
[Webster 1913 Suppl.]
3. an increase in cost, rate, etc.; as, there was a dramatic
hike in gasoline prices; a hike in the interest rates.
[WordNet sense 2]
Syn: rise, boost.
[WordNet 1.5]
4. Hence: the amount a salary is increased; as, he got a wage
hike. [WordNet sense 3]
Syn: raise, rise.
[WordNet 1.5]