In Running Scared (2005), The Scene where Detective Rydell show his badge to Anzor, then this effect is used on his badge:
What is this shining look like effect called?
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This effect is Twitch Effect, it can be achieved in softwares like Sony Vegas etc.
It doesn't come across well in your image but this is a stroboscopic effect.
It's not clear why it's being used here other than to heighten the tension of seeing the badge on Anzor although it might be a play on "flashing a badge".