Is BuddyPress build on WPMU technology therefore band from some shared servers?

I discovered that my host, DreamHost, (http://wiki.dreamhost.com/WordPress_MU) "WordPress MU (and WordPress Multisite) cannot be run using on our shared hosting servers using sub-domains (as Wildcard DNS is not available on a shared server). "

I am guessing WPMU can get piggy in a shared server pen. Is BuddyPress build on WPMU technology or is it also band on some share server environments?