1. To ramble incessantly about something.

2. To troll someone with a meme.

3. A more recent replacement for "for the lulz!"

Taken from the early-2010 internet meme of the "Russian Rick Roll".
Trololo (verb)
Example 1:
John: And so I went to the place with the guy and we did the thing and then this other thing happened so we met up with a guy in a place...

Jack: STOP TROLOLOING!

Example 2:
John: *Puts pedobear image on /b*

Jack: WTF, noob. Quit trololoing the forum.

John: Trololo!

Example 3:
Jack: Why did you set the maternity ward on fire?

John: Trololo!
by AlexeiThePseudonamer November 19, 2010
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