It's a "friendship" where you text, email, talk on the phone, and hang out pretty much constantly. In some fakelationships, you hook up while maintaining that you're "just friends." In others, it feels purely platonic, though the level of emotional dependence is way stronger than a typical friendship.
Joy: It's been 7 months, Jack and Jane have been dating yet never updated their single hood status on FB?
Simon: I think they are in a fakelationship!