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]