diff --git a/base/compiler/abstractinterpretation.jl b/base/compiler/abstractinterpretation.jl
index 3701fa8cf9cae..5c27edea6d686 100644
--- a/base/compiler/abstractinterpretation.jl
+++ b/base/compiler/abstractinterpretation.jl
@@ -2310,11 +2310,7 @@ function abstract_eval_cfunction(interp::AbstractInterpreter, e::Expr, vtypes::U
 end
 
 function abstract_eval_special_value(interp::AbstractInterpreter, @nospecialize(e), vtypes::Union{VarTable,Nothing}, sv::AbsIntState)
-    if isa(e, QuoteNode)
-        effects = Effects(EFFECTS_TOTAL;
-            inaccessiblememonly = is_mutation_free_argtype(typeof(e.value)) ? ALWAYS_TRUE : ALWAYS_FALSE)
-        return RTEffects(Const(e.value), Union{}, effects)
-    elseif isa(e, SSAValue)
+    if isa(e, SSAValue)
         return RTEffects(abstract_eval_ssavalue(e, sv), Union{}, EFFECTS_TOTAL)
     elseif isa(e, SlotNumber)
         if vtypes !== nothing
@@ -2335,8 +2331,12 @@ function abstract_eval_special_value(interp::AbstractInterpreter, @nospecialize(
     elseif isa(e, GlobalRef)
         return abstract_eval_globalref(interp, e, sv)
     end
-
-    return RTEffects(Const(e), Union{}, EFFECTS_TOTAL)
+    if isa(e, QuoteNode)
+        e = e.value
+    end
+    effects = Effects(EFFECTS_TOTAL;
+        inaccessiblememonly = is_mutation_free_argtype(typeof(e)) ? ALWAYS_TRUE : ALWAYS_FALSE)
+    return RTEffects(Const(e), Union{}, effects)
 end
 
 function abstract_eval_value_expr(interp::AbstractInterpreter, e::Expr, sv::AbsIntState)
diff --git a/test/compiler/effects.jl b/test/compiler/effects.jl
index 2c303f5335633..71eb50cd42760 100644
--- a/test/compiler/effects.jl
+++ b/test/compiler/effects.jl
@@ -1370,6 +1370,12 @@ top_52531(_) = (set_initialized52531!(true); nothing)
 top_52531(0)
 @test is_initialized52531()
 
+const ref52843 = Ref{Int}()
+@eval func52843() = ($ref52843[] = 1; nothing)
+@test !Core.Compiler.is_foldable(Base.infer_effects(func52843))
+let; Base.Experimental.@force_compile; func52843(); end
+@test ref52843[] == 1
+
 @test Core.Compiler.is_inaccessiblememonly(Base.infer_effects(identity∘identity, Tuple{Any}))
 @test Core.Compiler.is_inaccessiblememonly(Base.infer_effects(()->Vararg, Tuple{}))