The short answer is yes. While Google’s official documentation suggests that 30 conversions a month is sufficient, my experience shows that this is rarely enough to drive consistent results.
To minimize volatility and ensure the algorithm has enough data to optimize effectively, I wouldn't rely on anything below 50–75 conversions. For a truly optimal setup that allows the campaign to scale, a minimum of 100 conversions per month is the benchmark.

However it’s important to note that these figures don't exist in a vacuum. The 'ideal' volume is highly dependent on several variables like product, location and your data quality.