Is HYPHY a Wordle Word?

Yes. HYPHY is a valid Wordle word.

It is not on the Wordle answer list, so it is unlikely to be a daily answer.

What does HYPHY mean?

Rambunctious, loud, crazy, dangerous, irrational, and outrageous in behavior.“She was so hyphy outside the club Saturday night, she nearly punched a cop!”
Of or relating to the hyphy subgenre of rap music

Definition from Wiktionary, available under the CC BY-SA license.

Starter word rating: WeakIn the top 100% of all valid Wordle words for testing common letters.
Vowels: None
Unique letters: 3 of 5Repeats H, Y

Letter ratings use how often each letter appears in Wordle answers.

Tap its tiles to the colours Wordle showed, and the Wordle Solver lists every word that still fits, with the best next guess.