Peggyx lol, lmao even circulates as a short reaction sound rather than a clip tied to a widely documented show, film, or viral video, so its appeal comes from the phrase itself. The wording reads like internet shorthand for laughing while refusing to be impressed, and that attitude travels easily across short-form edits. Creators reuse it as a quick sign-off for jokes, fails, and exaggerated claims, where its brevity keeps the pacing tight and lets the joke land before the viewer moves on.