Burning coins if I am not mistaken got popular a few years a go as a gimmick to try to make it seem as if by burning those coins then the price of the remaining coins will become higher.

But this brings and uncomfortable question, why the developers did not created their coin with a smaller supply to begin with? And it is obvious they refused to do so as they wanted to use burning their coins as a market strategy to create attention for their coin, however as we know for any asset to become valuable its supply not only needs to be on the low aide but its demand needs to be high, as well and while burning tokens can reduce the supply, it does absolutely nothing to increase the demand.