herd orientated phrase derived from internet based social media to signify a moment of hilarity/cringeworthiness or as an act of attention seeking behaviour often cited in modern life.
this is often delivered in a group of people or anonymous internet forum so as to gain acceptance from that group (normally referencing another's shortcomings - usually someone not present or accepted in the group).
seen as a witty line of agreement or base of acceptance within your peers. normally delivered by people with low self esteem, or limited strength of character to form independent thought processes.
"and he fell over in front of everyone...megalolz"
"she's so lame she cried in front of him...megalolz
totes, epic fail"