I just read an article on Coindesk about gas price explosion of ETH due to its price spike in recent months. There is an example of a "smart contract" of a simple user registration, which was around $1 back in January, but is around $7 now and makes several applications on ETH useless / too expensive.

I know about dynamic block size and dynamic fees, but in my understanding it wouldn't prevent fees (in fiat) to skyrocket if let's say Monero price would rise x00% but the block size wouldn't grow much at the same time.

So is it possible to set the fee multiplier below 1? Would such a transaction be likely included by miners in a block (if it's not "full" already with higher fee tx) or rather stuck in the mempool?