Whilst it's technically possible to install and run Magento on a shared hosting environment (such as our Infinity or Reseller plans), it certainly isn't recommended.
Magento is particularly 'resource heavy' and has an incredibly large requirement in terms of RAM and CPU. In addition, the cron tasks consume a large amount of resources such as RAM, CPU and IO throughput for cache generation - all issues that would likely lead to performance-related problems on a shared platform.
If you are looking to host Magento sites/applications, you will need to consider the resource overhead when choosing the right plan. Our Premium Hosting plans are ideal, as they include larger amounts of physical resource...
https://webgee.com/premium-hosting
Premium Hosting also includes 'LiteMage', which is a caching plugin developed by the Litespeed team...
https://www.litespeedtech.com/products/cache-plugins/magento-acceleration