your strategy is only good in a coin that you know is going to rise in long term not a pump and dump coin like Verge. you do this strategy with bitcoin for example.
it is worth mentioning that buying in the dips while the coin is getting pumped is a good strategy because you are buying more and more with the same amount while the price is rising overall. but any time other than that you will be buying the dips of a downward spiral and in the end you will be left with a total number of coins which is worth less than your invested amount.