The burnsteem initiative is a good one. Burning of tokens contributes to reduction in supply which affects the tokens.pricw positively.

However, having tried that mechanism, it is not working. Why? Because the number of tokens injected into the market makes the burned steem insignificant.

So I will suggest the steem devs introduce the buyback mechanism or other deflationary method of reduction for the steem token.

Burning of fees payed for transactions on the steem exchange can also help with the token reduction.

I also know that the halving method used by some chains will help a lot too. Even though this will require a hardfork.

These are my suggestions to help improve the price of the steem token generally.

It is very unfortunate that even with the pump of BTC and other coins and token, our beloved steem coin have been ranging between $0.26 and $0.34 which is not good for a serious and money-minded investor since its rate of return is not impressive at all.

If some of the measures I mentioned can be adopted, we will see an organic growth in the price of steem coin.

Thanks @pennsif for this opportunity to share my thoughts.