"celebrate" in the verb sense
1. observe, celebrate, keep
behave as expected during of holidays or rites
"Keep the commandments"
"celebrate Christmas"
"Observe Yom Kippur"
2. celebrate, fete
have a celebration
"They were feting the patriarch of the family"
"After the exam, the students were celebrating"
3. lionize, lionise, celebrate
assign great social importance to
"The film director was celebrated all over Hollywood"
"The tenor was lionized in Vienna"
Source: WordNet® (An amazing lexical database of English)
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