The '80s iteration was basically a memetic evolution from the days of letter crafting when LOL stood for "lots of love" or "a lot of luck." Given that then It really is gone through an identical memetic evolution as "meme," observing use for a verb with phrases like "I lol'd." https://geschaftsgrundlagen.de/memecoins-und-die-macht-der-community-wie-virale-trends-den-erfolg-von-kryptowahrungen-vorantreiben/