1 [hahyp] Informal.
verb (used with object), hyped, hyping.
to stimulate, excite, or agitate (usually followed by up ): She was hyped up at the thought of owning her own car.
to create interest in by flamboyant or dramatic methods; promote or publicize showily: a promoter who knows how to hype a prizefight.
to intensify (advertising, promotion, or publicity) by ingenious or questionable claims, methods, etc. (usually followed by up ).
to trick; gull.
exaggerated publicity; hoopla.
an ingenious or questionable claim, method, etc., used in advertising, promotion, or publicity to intensify the effect.
a swindle, deception, or trick.

1925–30, Americanism; in sense “to trick, swindle,” of uncertain origin; subsequent senses perhaps by reanalysis as a shortening of hyperbole

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2 [hahyp]
noun Slang.
a drug addict, especially one who uses a hypodermic needle.

shortening of hypodermic; cf. hypo1

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
hype1 (haɪp)
1.  a hypodermic needle or injection
vb (usually foll by up)
2.  to inject oneself with a drug
3.  (tr) to stimulate artificially or excite
[C20: shortened from hypodermic]

hype2 (haɪp)
1.  a deception or racket
2.  intensive or exaggerated publicity or sales promotion: media hype
3.  the person or thing so publicized
4.  to market or promote (a product) using exaggerated or intensive publicity
5.  to falsify or rig (something)
6.  (in the pop-music business) to buy (copies of a particular record) in such quantity as to increase its ratings in the charts
[C20: of unknown origin]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

"excessive or misleading publicity or advertising," 1967, Amer.Eng. (the verb is attested from 1937), probably in part a back-formation of hyperbole, but also from underworld slang sense "swindle by overcharging or short-changing" (1926), a back-formation of hyper "short-change con man" (1914), from
prefix hyper- meaning "over, to excess." Also possibly influenced by drug addicts' slang hype, 1913 shortening of hypodermic needle. In early 18c., hyp "morbid depression of the spirits" was colloquial for hypochondria (usually as the hyp or the hyps).
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
And the hype over online social networking has only increased in the past
  several months.
What is needed is independent verification with controls, otherwise this
  ridiculous hype will continue.
There's been much hype and speculation, but scientists don't appear to be
Let's put all this hype about change and transformation in perspective.
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