The sound comes from the Touhou Project, the long running Japanese bullet hell series created by ZUN of Team Shanghai Alice. In those games bosses are defeated after spell card phases, and their death is marked by a distinctive short explosion that players hear after some of the hardest fights in the genre. Clips and fan edits shared the effect outside the games, and it became a shorthand among Touhou and gaming communities for a boss finally going down, which keeps it popular for memes and edits.