This is the 5462nd most frequent Russian word.
победе
"Победе" means "victory" (dative case).
In this sentence, 'победе' (dative case) is used to refer to the 'victory' that resulted from an act.
Говорят, этот подвиг привел к великой победе.
They say this feat led to a great victory.
Here, 'победе' (dative case) indicates the 'victory' that participants are rejoicing about.
Участники соревнования радовались своей победе.
The competition participants rejoiced at their victory.
In this instance, 'победе' (prepositional case) is used to incorporate the 'victory' into the topic of discussion.