Magikarp is a Water-type Pokemon introduced in the first generation of Pokemon games in 1996, famous for knowing only the useless move Splash. Over time fans turned its weakness into an ironic cult following online, jokingly treating it as powerful and worthy of praise despite evolving into the fearsome Gyarados only later. The phrase Praise the Karp plays on that worship joke, and clips like this spread through meme edits, streams and soundboards where exaggerated devotion to something hopeless is the humour.