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To drive so fast that the speedometer needle hits the peg that stops it from going round and round.
Dude, you hit 110 and pegged it!
pegged by DanO February 23, 2005
For a CPU (Central Processing Unit, the most important part of a computer), to be overloaded with work.

Most commonly this will results in lags for other processes.
Buffer timed out (is the CPU pegged?) -- Android AudioTrack log output
pegged by vinntec December 18, 2011
To hang around local bars and take home easy good looking women
That girl at that bar last night totally got Pegged when she left
Pegged by xggggg November 12, 2011
Tom Brady loves getting pegged by his wife after giving his son a kiss on the lips
Pegged by ladyballls February 7, 2021
When a man gets fucked in the ass by a woman using a strap-on dildo.
Person A: "Bro Davis got pegged by Juliet last night!"
Person B: "No way! I had a feeling he was gay."
Pegged by I_Qwickscope_Your_Mom February 5, 2021
1. you want another hit? No Im pegged
pegged by superboofer August 25, 2013