Yes, for such a small use-case that should be more than enough. If your data endpoints are public (what I’m about to suggest doesn’t work yet with authenticated GET requests). You can actually use one of the community middleware packages: GitHub - patrixr/strapi-middleware-cache: A cache middleware for https://strapi.io that would add a Redis database caching system.
Using the cache middleware means your GET requests don’t hit the database after the first time (defined by an expire time) and the response is extremely fast since Redis is an in-memory database.
I regularly used it in my own case to cut down on the requests to the database and saw a massive performance improvement for my large user-base.