The difference between Plummet and Skyrocket
When used as nouns, plummet means a piece of lead attached to a line, used in sounding the depth of water, a plumb bob or a plumb line, whereas skyrocket means a type of firework that uses a solid rocket engine to rise quickly into the sky where it emits a variety of effects such as stars, bangs, crackles, etc.
When used as verbs, plummet means to drop swiftly, in a direct manner, whereas skyrocket means to increase suddenly and extremely.
check bellow for the other definitions of Plummet and Skyrocket
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Plummet as a noun (archaic):
A piece of lead attached to a line, used in sounding the depth of water, a plumb bob or a plumb line
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Plummet as a noun (archaic):
Hence, any weight
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Plummet as a noun (archaic):
A piece of lead formerly used by school children to rule paper for writing (that is, to mark with rules, with lines)
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Plummet as a noun:
A plummet line, a line with a plummet; a sounding line
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Plummet as a noun:
Violent or dramatic fall
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Plummet as a noun (figuratively):
A decline; a fall; a drop
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Plummet as a verb (intransitive):
To drop swiftly, in a direct manner; to fall quickly.
Examples:
"After its ascent, the arrow plummeted to earth."
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Skyrocket as a noun:
A type of firework that uses a solid rocket engine to rise quickly into the sky where it emits a variety of effects such as stars, bangs, crackles, etc.
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Skyrocket as a noun (by extension):
A rebuke, a scolding.
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Skyrocket as a noun (UK, Australia, rhyming slang):
Pocket.
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Skyrocket as a verb:
To increase suddenly and extremely; to shoot up; to surge or spike.
Examples:
"The shortage caused prices to skyrocket."