Well, if it's only about the bandwidth, you can upgrade to a VPS as a VPS is offered with more bandwidth in comparison to a shared hosting plan and offers most of the features a Dedicated Server does, however, if you would like to have some applications installed on your server and full control over the hardware i.e. the capability to upgrade the hardware at any point of time for more resources and better performance, you can choose a Dedicated Server :D
Please feel free to post if you have any further questions.
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