Burning supply would probably increase market price, but I don't think its effects would last. As soon as the prices would soar, people would just dump their holdings which would bring the prices back down. It's just for temporary hype and for hopes that it would revive its market. But for me, once it becomes irrelevant and people moved on to another coin in the market, without real progress and advancement in the technology and adoption, there's just little chance that it would get back up.