An internet term that combines the term "lol" meaning "laugh out loud or hilarious" and drama meaning "any situation having emotional and conflicting results". Together meaning drama that is so pathetic, it makes the average internet goer have a chuckle or two at the pure nonsensical drama unfolding before their very eyes. It is often used in immature internet fights, usually dealing with topics that have no reason to be fought over.
Player #1 - "You said the deadline was 8:00, not 8:01. You changed the rules!"
Moderator - "I'm the mod. I can do whatever the hell I want to do."
Player #1 - "That's not fucking fair"
Player #2 - "Oh, the loldrama."