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1.
Slang, referring to cocaine use and the white residue it leaves.
It can also be used to describe a look or action of a coke user.
Who left the ghostly prints on the mirror?

That chick at the coffee shop was acting ghostly, I think she is a cocaine user.

Is that guy a coke dealer? Yeah, he's my ghostly friend.
by HertzDonut September 21, 2010
 
2.
cool, awesome, when you really like something
that movie was ghostly
by qhostly4life June 09, 2008