A level above lolocaust, (although a lolocaust does not necessarily have to occur previous to the lolocalypse).
The lolocalypse is when
something is so incredibly funny, it is capable of exterminating all
humans on the planet Earth. Theoretically, the lolocalypse can only occur once, after which all
humans will have been killed, and apes with rise to power. This is why it is referred to as 'the' lolocalypse, and not 'a' lolocalypse.
The 'lol' can also be replaced with 'lawl.' This simply make the word easier to annunciate the word.