What does ^5 mean in Emoticons?

This page is about the meanings of the acronym/abbreviation/shorthand ^5 in the Internet field in general and in the Emoticons terminology in particular.

High five

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What does ^5 mean?

High five
pl. a celebratory or mutually congratulatory gesture between two persons performed by each slapping the other's raised right hand. Also used as a verb.

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"^5." Abbreviations.com. STANDS4 LLC, 2017. Web. 18 Nov. 2017. <http://www.abbreviations.com/term/14507>.