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To calm down yourself, or someone you know, when they are really excited about something to minimize the risk of being let-down or just in general stop talking about it.
Person 1: Oh my god, I can't wait until I get my hands on Grand Theft Auto V!
Person 2: You need to dehype or it will never live up to your expectations.
by boolProp August 20, 2013
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To tell someone to relax, or chill. Usually used when someone is getting overexcited from something that isn't that big a deal.
Bill:wtf jack you asshole why the fuck didn't you just put the toilet seat down
jack:you sound like my wife fruitcake, dehype.
by dehype September 05, 2008
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