Billions of tokens are burned, but how much of the total amount does the burned amount? Tokens like Shiba are constantly creating new hype for investors. They are good at marketing, but they are dishonest. I'm not rich enough to buy a Shiba and lose money. They can burn as many tokens as they want, I'm not interested in them.
We must also remember the price of any asset is determined by the supply and the demand, and burning tokens only affects one of the two factors, which is the supply, but it has no effect on the demand at all.This means the developers of Shiba could burn all the tokens they want but if they are unable to raise the interest from the community then their actions will mean absolutely nothing, and if anything they run the risk of those actions playing against them, because if after such measures the coin still remains static when it comes to its price then the few which still hold Shiba may lose their trust in it and begin to sell their coins.
A coin that is scarce or in low supply that people don't need is useless. We know that before ETH moved to POS, before ETH didn't have a limited supply, but because it provides so many usecase for investors, its supply and demand are always high, creating real value for ETH.
In contrast, memecoins are different because they are just hype, burning the supply hardly makes any sense unless it turns out that they are useful in some way
Two zeros? Hardly, the project has already grown enough, one burning is not enough to make it grow 100 times. Burning by itself does not yet indicate that the coin becomes deflationary. If combustion exceeds issuance, it might have some effect on price growth, but if like Axie Infinity, when issuance greatly exceeds combustion, it won't save the token from becoming even cheaper due to increasing supply in the market. 