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Term used in basketball when a player hits a perfect swish, usually called out by another teammate or occasionally the douchebag that took the shot. After taking the shot you keep your hand in the same position it was in as the ball was released because the shot was just that perfect others playing want to see the form.

Juwan: *Hits perfect shot from 3*

Ben: "Thats what I'm talking about Keep it hangin'"
"Damn that shot was nice! Next time keep it hangin'!! "
by ConeMaster March 14, 2015
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