I developed a very small red bump on the tip of my tongue that is painful / sore. i burned my tongue earlier today, could it be related?

Likely: That is the most likely scenario. You might also be pulling it against or over or through a small space at the front of your teeth. This can be a habit. If burned, it should resolve in 1 - 2 weeks. Monitor it and see. If not better, see your dentist. Good luck.

Yes: When you burn your tongue with hot temperature food, it will leave an irritated area sometimes in a red shade that would be sore temporarily.