You should opt to go for Shared hosting if :
– You are looking for an extremely cost effective solution
– Testing out your idea for traction is important to you, and if it will take some time before your site starts making any money
– You are looking for easy upgradation if required
– You can compromise on user experience on your site slightly in the initial months
However, it should be noted that shared hosting sites come at the bottom of the value chain for the providers – hence, the quality of uptime, as well as support expected would go down significantly.
So, a couple of dollars per month is not a big push for you, then, we will definitely suggest that you look at VPS servers for hosting your website, as you would get much better performance that way.
You can find the best VPS providers here.
However, there are a couple of shared hosting providers you can definitely look at, to test out the initial stages of your website, before you move on to better things.