LOL or LoL or lOl or a combination of the three?

There are many different forms of language within the world. From taking a cultural anthropology course at Lawrence University, I have learned many languages have different roots, sub languages, and different forms of communication than originally intended to have. One particular Language subset is LOLspeak and my question for today is, why people may choose to participate in such language play? 
LOLspeak is a playful variety of English that shows complex and multi-faceted manipulation of Standard English for entertaining ends. That is one of the reasons why people have taken on the concept, it is entertaining. Its used in many forms of entertainment, such as chat rooms, video game chat rooms, memes and more. LOLspeak is a fun and creative way for individuals to express their ideas for their community and others to enjoy. For example, there are many memes that use LOLspeak to allow their viewers to laugh and in hope spread the meme so it can reach other people even more: 

LOLcat meme with LOLspeak parodying pop song from Miley Cyrus "Party in the U.S.A" 

Fry from hit animated television show "Futurama", with popular meme that has many twists. This particular one has to do with LOLspeak.

Additionally, people choose to participate because of the communities that can be formed around LOLspeak. Many sub cultures have created their own communities in following of LOLspeak such as LOLlinguistics, LOLpresidents and even more. 

I agree with this reasoning to why people partake in this Language play. Growing up me and my friends would say it without even realizing what we were saying was LOLspeak. Terms Pwned, and murff were explicitly visible within our vocabulary. We used to have fun enjoying the terms that we picked up and the secondhand meanings we would give them. All because of LOLspeak, my friends and I would be able to have fun and bonding moments, which is why many people would chose to participate in the language play.