I give it!

The expression of admiration and approval of something or someone's story.
The expression originates from the the translation of the Hungarian "Adom". Although the expression is borrowed from Hungarian it shows some similarities in grammar and usage to "I'll give you that!".
The term could also be interpreted as a shortened and simplifyed version of saying that: "This is awesome I'll give you that!"
The term is often used as a reaction to one's showing a meme that you admire.

Suzy: *shows a meme of incest*
Her stepbrother: *rolling on the motherfecking floor* I give it!