Meaning of the word "way up" in English

What does "way up" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

way up

US /weɪ ʌp/
UK /weɪ ʌp/

Adverb

a long distance up; far above

Example:
The bird flew way up into the sky.
The prices have gone way up recently.