High price and no volume means that there is some sort of manipulation going on in the trade pair and exchange platform.
This is one reason why i do not always follow coinmarketcap, i prefer to visit the exchange and see things for myself.
It is hard to identify tokens with no worth, but with good research strategy, you can have an advantage
obviously they do that to attract attention, even some altcoins have gone up to 600% within 1 day. but, we need to distinguish which coins are manipulated, and which actually rise. However, if a coin has a high price, but there is no volume, or demand there, that is the thing to avoid.