Yep, and it's because the two opposing forces are the gyroscopic stabilization provided by the rifling, and air pressure on the front of the bullet: The faster spin resulting from extra velocity makes the bullet more stable, but the extra air pressure destabilizes the bullet.
The effect of extra spin is only slightly more than extra air pressure.


“Montana seems to me to be what a small boy would think Texas is like from hearing Texans.”
John Steinbeck