Yes, token burning is a method that can prevent token inflation by limiting the supply.
We know that the more token supply the less the price because the availability of the token is still big.
But if the token supply is low, then the price will rising due the demand higher than the supply.
If the token has a large transaction volume and a large marketcap value, the burn token will affect prices positively because the supply will decrease drastically while demand remains constant or may even increase