Ok so i started playing guitar around a year ago and i think ive improved pretty rapidly compared to my friends. i can now do some reasonable wild improvistation, i can do 3-string sweeps, legatos and stuf like that.
The problem is that until now i was really exited to play everytime and to learn new stuff but now i just dont know what to do? I dont what to practice now and some help would really be appreciated.
No mattr how good you get, you'll always be able to get better. I'd suggest finding some songs you really like, that are quite hard, and try to perfect playig them. I find playing songs I really like keeps my interest in playing more so than learning theory.

You could also try writing some stuff of your own.
find some really difficult songs and beat them...
and absorb their technique..
thats all i can say...
what i did when i got bored was i did 3 things
1. Try writing your own music and make it super awesome =) always try finding ways to make your own music better. That's how you can make a good song.
2. Tab music. It trains your ears which really helps your sound when your writing music.
3. Try other instrument. I got god at bass and couldn't find any songs that challenged me (except scarified, agh! I don't have solos up to speed yet =( )m, so i tried guitar. also if you play another guitar it can make you better at your main instrument u play and give u ideas for songs and change your style a bit.