Nerd five is like a regular high five, only with a jump. While high-fiving you need to scream "boyia" and jump up in the air (both people at the same time). This kind of high five occures when you both have bought/done/achieved something awesome.
Eks. You and a friend just bought the same game and are very excited about playing toghet, then you proceed to jump in the air and do a Nerd five.
by Islandfarm February 2, 2012
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