Is Hallelujah the highest praise?

REV. 4:8 And the four living creatures, each one of them having six wings, are full of eyes around and within; and day and night they do not cease to say,
“Holy, holy, holy is the Lord God, the Almighty, who was and who is and who is to come.”

The term hallelujah, which means "praise the Lord" is derived from the Hebrew words "hallelu" (praise) and "Yah" (a shortened form of YHWH, the name of God). The word appears mainly in the Book of Psalms and in the New Testament book of Revelation.

Throughout the Psalms, hallelujah is frequently used as an expression of worship to God. For example, Psalm 150, which concludes the Book of Psalms, repeatedly uses "hallelujah" as a command to praise God with various musical instruments and forms of worship:

PSALM 150:1 Praise the Lord!
Praise God in His sanctuary;
Praise Him in His mighty expanse.
PSALM 150:2 Praise Him for His mighty deeds;
Praise Him according to His excellent greatness.
PSALM 150:3 Praise Him with trumpet sound;
Praise Him with harp and lyre.
PSALM 150:4 Praise Him with timbrel and dancing;
Praise Him with stringed instruments and pipe.
PSALM 150:5 Praise Him with loud cymbals;
Praise Him with resounding cymbals.
PSALM 150:6 Let everything that has breath praise the Lord.
Praise the Lord!

The Fourfold Hallelujah:

REV. 19:1 After these things I heard something like a loud voice of a great multitude in heaven, saying,
“Hallelujah! Salvation, glory, and power belong to our God,
REV. 19:2 because His judgments are true and righteous; for He has judged the great prostitute who was corrupting the earth with her sexual immorality, and He has avenged the blood of His bond-servants on her.”
REV. 19:3 And a second time they said, “Hallelujah! Her smoke rises forever and ever.”
REV. 19:4 And the twenty-four elders and the four living creatures fell down and worshiped God who sits on the throne, saying, “Amen. Hallelujah!”
REV. 19:5 And a voice came from the throne, saying,
“Give praise to our God, all you His bond-servants, you who fear Him, the small and the great.”
REV. 19:6 Then I heard something like the voice of a great multitude and like the sound of many waters, and like the sound of mighty peals of thunder, saying,
“Hallelujah! For the Lord our God, the Almighty, reigns.

Across the many religious circles in the world, the assumption that hallelujah is the highest praise is rooted in several theological and scriptural reasons:

A) The Meaning and Origin: as mentioned before the very word "hallelujah" is a direct translation from the Hebrew meaning, "praise the Lord," thus leading many to believe it's more powerful than other words of praise.
B) Cultural Significance: Throughout centuries, "hallelujah" has been adopted in Christian liturgy, hymns, and songs reinforcing its position as a superior declaration of praise. Additionally, the term is used across all the "Christian" denominations spurring the heightened connotation.
C) Biblical Usage Itself: "Hallelujah" appears principally in the Psalms, which are central to the heart of praise and worship literature. 

These factors contribute to the perception that hallelujah is the highest praise when called to worship God. However, when we search the scriptures we find many, many other words and positions to encompass worship to our Savior. It is not the mere words that we utter out of our mouths that show how much or little we praise God, it is in our very life, in the ways we praise behind closed doors, or through the heartfelt praise to our Lord.