Because meteors move through the sky so quickly, we often refer to something moving very fast as meteoric. A newly-popular singer might be said to experience a meteoric rise to the top. (The fall can be meteoric, too.)
The "-ic" suffix on a word creates an adjective meaning "with the characteristics of." So meteoric means “having the characteristics of a meteor.” Both words take their origin from the Greek meteōros, meaning "high up." By the way, a shooting star is meteoric, being a meteor that is burning up as it plunges through the earth's atmosphere.