Most of the time on shared hosting such limitation will always persists. Throttling and all depends on how frequent emails will be sent. Lets say if you got a webtolead capture form and upon receiving a lead you greet them with an email. Just in case if two leads comes in system in 8 sec one will be addressed and other wont.
Moreover if you think about campaigning certainly it will not suffices the needs. I would suggest either you switch over to other hosting provider which allows more leverage or move to a dedicated server.
Yes it can be done, ignore urdhvatech’s comment for those newer people that may run into this. It is very very possible considering we use throttling 200++ emails only a daily basis(Starts back where we stopped sending 499 every other hour). 2+ years, no issues from our hosting company. Only time we get returns are when it’s a bad email address from entry or client.