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2.
This is sometimes used to replace the common exclamation point, but most often they are used together.

It usually expresses extreme happiness or anger about something, and a regular exclamation point isn't enough to express how the person feels.

Occasionally the word shift is left out and just the number 1 is used.
Wow!11!!shift1111!!shift1!! I can't believe Flo Rida came to S'toon!!!11shift1!!
by 1337 PWN July 26, 2009

Words related to shift 1

! big one capital one exclamation point upper one
 
1.
n. Exclaimation point. The result of pressing the <shift> and <1> keys simultaneously.
MdnnaFngrl894: omg i didnt touch your lo mein i swear
Gdssheart4u: really?
MdnnaFngrl894: I SWEAR
MdnnaFngrl894: shift 1
MdnnaFngrl894: shift 1
by hotfrenchtoast April 30, 2005