I have written some axioms that are widespread in trading platforms Which relates about currencies exactly:
1. Volume is really high, but price is still low?
the whales are accumulate the coin
2. Volume is high and the price is high?
the buyers are too much and the coin is top gaining
This measure is not the only thing you should look at, you have to look at the chart and maybe do some analysis before doing a trade. You can't just solely use volume as your parameter, there are lot of values you have to consider so you can get profit from your picks.
3. Volume is low and price is high?
a pump is happening here
That means it probably has really low liquidity which is really bad for your money. You should also pay attention to the liquidity as well not just volume thingy.