I think coins or cryptocurrencies prices are determined on their trading volume most likely. Look at
ETH, even with high gas fees, users are still holding and trading it. There are lot of DeFi's involved in here also. There are so many factors as to how these prices are determined.
The volume already determined from the supply and demand, I can say that if the volume reflects the demand for hte coin. When users are trading on the centralized exchange site and the traders will not be charged the high fees like when you are trading on the UNIswap. That was the different thing dude.