Yes, it is. You only need at least 1GB of RAM to run Minecraft. In fact, some hosts offer almost half of that. But it’s only enough for an average gaming experience. If installing custom mods and apps is your thing, consider going higher.
You should take note of other server requirements. This consists of CPU types and storage space. For the best outcome, you need at least 10GB of space and an Intel Core-Based/AMD K8 processor. Also, ensure that your Java version is up to date.