One of my sites on shared hosting is getting about 700 Visits and 8,000 page Views. Shall I upgrade to dedicate hosting?
You should upgrade only if your current set up cant take the load. As long as your host don't complain, why should you waste money? 8000 page views is not that much!
If you are talking about 8,000 page views a day, I would say you don't need dedicated. Like the others said, unless your performance drops, there is no need to move.
Listen you don't NEED dedicated unless you can't do something you want to do, or your host makes you upgrade, but it gives you so much freedom and opportunity and power and control. If you can afford to have a VPS (virtual private server) then get it. The jump from a VPS to a real server is nothing since they seem exactly the same from the inside