It is possible, but you have to be very careful about where every dollar goes. With a small budget like that, you cannot afford to test many keywords at once, so you need to focus on very specific search terms that have lower competition and are directly connected to what you are selling. Long-tail keywords, which are longer and more detailed phrases people search, usually cost less and attract buyers who already know what they want. You will not get massive traffic, but you can still get meaningful results. Have you run campaigns on a tight budget before?