so this means there will be a day when all BOOM tokens will be burned and there will be no more BOOM. We have to consume all BOOM tokens prior to that date. Its like pass a pillow game, you need to throw pillow to someone other before the music stops. Let me know if I got it correct.
No its not, its only burn 1% on percentage. I dont think this would impact much to the price, its just like 1% transaction fee that goes to burning address.
Also, how the market deciding the price if all of the people hold the tokens.
AFAIK, every transaction will also burn some of BOOM token and thats the only way to introduce deflation i.e. decrease in supply of BOOM tokens. As token supply will go down, we will see increase in price of tokens.