We all know that the price of a token is based on the supply and demand of that particular asset in the market. The more the supply of a token, the lesser will be its price and vice versa. Similarly, the high demand of an asset in the market also leads to the increase in the price of that asset in the market.

That's one of the basic aims for burning tokens to create a balance supply-demand so that excess of the token does not remain in the market, which may tend to weaken the price. So with token burn, less supply and more value is added to the token.

Furthermore, the burned token are destroyed forever as it belongs to no one any longer as the dead wallet has no private keys for transfer out.