I run IPFS on raspberry Pi (along with many other network services). Daemon is hungry for memory, but it's not a big problem. I use following systemd unit to run it and restart when it eats too much of memory:

  [Unit]
  Description=IPFS daemon
  After=syslog.target network.target

  [Service]
  Type=simple
  User=pi
  ExecStart=/usr/local/bin/ipfs daemon
  Restart=always
  KillMode=process
  MemoryHigh=250M
  MemoryMax=300M
  RestartSec=60

  [Install]
  WantedBy=multi-user.target

It's Raspberry Pi 3B+, 1 GB RAM