If someone has convinced 0.02 percent of a 50,000 social media following (1000 people) to donate $4 each person, then what's the chance that a third of that number - 16,500 - would have at least 1000 people willing to donate $1 each person? Well, the quality of the product would be a big influence - but I think the lower price is also.
So donating, not buying? Are you looking for the $1 from the same group of people or does your account have fewer people so you're looking for smaller donations?
I'm talking about Patreon pledges. Well, the idea is that I have a smaller social media following - but because I'm only asking a dollar/month - I should make as much as bigger Patreons who are asking $4 a month.
But maybe you need to give some reason why it's so cheap, e.g. make some sort of limited time offer so that they don't associate that $1 with a cheap low quality product/membership. You want to convey they're going to get quality. Because $1 a month is crazy low. Testing will tell you, try $1 and see if it works.