Hello friend.

Nice explanation. You have explained the Token Burn in a well manner. The following point is absolutely correct.

burning of a coin makes it scares or reduces it supply on the market. Which intend makes it demand high. Whenever the demand of a coin gets high, it value and prices then begins to rise.

Although, there are many other factors behind the price movements, but this could be one of them.

The sending of tokens to dead or null wallets to make them destructed is called as Token Burn.

Thank you so much for your nice post. Very good luck for the contest. 😊