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And you haven't switched to a dedicated server why?
You can find excellent dedicated servers to meet all budgets. From $13/m to $50/m; I highly suggest you move to a dedicated service and then optimize/fix any problems within your setup after.
There is a good chance that the answer is yes, but this assumes the problem is found in a lot of dynamic websites that could easily be viewed as static content that have poor, or no, caching.
So it impacts website performance negatively no matter which plan you use? Good to know.
If it's negatively impacting website performance, you're doing something wrong.
That or you have the most incredible networking I've ever seen, that actually causes users across the whole world to load images faster from your server than from one near to them.
If you have that, well...I'd like a colo quote.