It produced a pump but failed to initiate a bull cycle. It was not enough to initiate a bull cycle. A bull cycle has to be caused by a lot more factors than just token burning, however huge it may be. The burning was good enough to cause a long green candles to Stellar's price though. But there was resistance after increasing more than 20%, and a little red ensued. But right now, the red is also replaced by a little green. Let's see how long this green would last.