It essentially means "Are you leaving?" or "Are you leaving now?"
This phrase is commonly used in casual conversations, especially among young people. It can be used in various situations, such as:
* When someone is about to leave a gathering or event.
* When someone is about to end a phone call or online chat.
* When someone is about to go somewhere else.
For example:
* "Yo, you dippin'?" (Are you leaving?)
* "I gotta get going, you dippin' too?" (I'm leaving, are you leaving too?)
The phrase can also be used in a more informal way, like a question to check if someone is still interested in something, for example:
* "You dippin' on that pizza?" (Are you still interested in having some pizza?)
It's important to note that the phrase is considered informal slang, so it might not be appropriate for all situations.