Yes.

The first effect of it is whenever there's a valuable coin that announces that they're going to burn tokens with a certain fiat amount, there's going to be a rush from buyers which will make the price pump.

Second, after that rush of buying since it's just a temporary pump, the actual thing of burning is what's more reasonable than seeing it go up continuously.

But to mind you, a lot of projects that have also announced their burning but not the same success as the others.