The phrase refers to the opening scene in Indiana Jones and the Kingdom of the Crystal Skull, first worldwide released on May 22 2008. The infamous scene was seen by many as betraying the normal half-serious tone of the series, by introducing an element of cartoonish factuality and typical excess.

The first public use of the phrase as a direct metaphor is reported to have been on May 24, 2008, on the IMDB message boards.

The phrase has been used more recently outside the realm of popular culture, representing anything that has reached its peak and has turned mediocre. If one thinks a stock or a sports team or a subcultural phenomenon has reached its peak, for example, one can say that it has “nuked the fridge.”