I run it on a Docker container, on my VPS on the cloud.

For more details have a look at my scripts: https://gitlab.com/docker-scripts/mastodon

It is also possible to install Mastodon with a single account, just for yourself (SINGLE_USER_MODE=true, see https://docs.joinmastodon.org/admin/config/#single_user_mode). In this case a 2GB VPS is sufficient. Otherwise (in multiple user mode) I would recommend at least 4GB RAM.

Good luck,

Dashamir