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It's a Spanish-language variation of "dope" in its meaning of "cool" , "good", "great", etc. with the "loco" part of the expression only there because it rhymes with "dopo", wrongfully represented as "dopeo" in a separate entry (instead of "dope-o")
- My godmother bought me a new car for my graduation.

- Oh, dude! That's dopeo
- Yea, man. That's el dopo loco!
by Pep-e February 02, 2010
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