Can traffic on steem blockchain drive up the price of steem?

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No. In my view, traffic for the sake of traffic will not drive up the price of steem. 

The price of Steem is set by supply and demand for the token in the crypto exchanges. In order for the price to rise demand for steem must increase (or the supply reduce).

Demand for Steem could increase by:

• Increasing numbers of users coming to the platform, drawn by content that they have seen or by marketing. However this is a double-edged sword as new users could also increase the supply of steem to exchanges if they withdraw the rewards they make on posts. 
• Investors buying into steem, drawn by the potential to make returns, to advertise, to access the steem blockchain's talent pool, or by speculation. Investors are likely to be attracted by increased user numbers, new development or quality content but not simply by traffic.

So while increased user numbers could increase the price of steem, traffic as of itself is unlikely to have this effect.