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The sound was created by playing an octave or fourth interval upward at a fast tempo.

Higher-pitched sounds are generally perceived as positive, signaling a "win" or positive reinforcement, similar to receiving money.

The "Ding": The History and Psychology of the Video Game Coin Sound Effect

It was designed using a simple wave generator on the Nintendo, which only had five sound channels.

Sounds with a low attack (fast startup) and quick end-cutoff feel "snappy" and rewarding.