Hello brother.

The primary essence of this activity anchors on the principle of demand and supply which is triggered by shrinking the supply excesses in circulation.

Yes, very right. The main purpose behind the Token Burn is to reduce the supply of tokens from circulation.

For this purpose, the tokens are sent to the dead or null wallets that act as monsters to eat or destruct the received tokens.

Hence, the circulating supply of the respective token is reduced. The high demands tends the price to move upward.

Very good explanation of the token burn. I really like your way of presenting the post.

Thanks a lot for sharing your precious post with us and wishing you a very happy contest ahead. 😊