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I think that a good reason to bother leveling up is needed here. Something worth the time it takes to gather up the points required to do it. Maybe added features/ abilities to higher level members would be cool. Since this is a prank site why not give certain levels special features they can use on other members.
For example, at level 10 you can change the text color and font of a member to the color/ font of your choice. This is unchangable for a certain amount of time. 24 hours maybe. This can be used once a week. (A nice hot pink for someone you don't like)
At level 20 you get the ability to change one members photo to something else (that doesn't break the rules) for a certain amount of time. This will be stuck there and unchangable by the victim until the time runs out. You can do this once a week.
Back when RE V.3 was booming, there was constantly forum wars going on. Certain people arguing, others taking sides. That was a huge part of the fun. With these abilities it would give people more initiative to try and level up so they can get revenge on people they don't like. It would be harmless fun prank style.
Another idea would be alternate ways to gain egg points. Arcade style games for example. Something competitive for scores. Even a simple space invaders style game would draw a lot of attention here among us I'm willing to bet.
My final idea would be to crown me greatest member of all time. I think this would draw attention all over the Internet for people to come view my greatness.