It depends what type of traffic do you have?
Is this just one page traffic (bringing referrals from sources like social media, forums, blogs, etc..). Why i'm asking this?
Yes! it really matters.....
Traffic::
Usually traffic brought from sources, browse a landing page there's wouldn't be any unique counts, so in that case your cache plugins can't spend more effort in terms of performance. If users are giving you nice no of pageviews in that case your cache plugin will manage the performance and will give you the best result.
Hosting:
Definitely that you cannot run your website through any shared hosting OR WORDPRESS HOSTING if you are going to have this much of volume. Don't consider having a VPS/Dedicated through any hosting company, it doesn't matter how big that hosting company is. Third party hosting companies will never give you prompt support and will never even guarantee you that if you bring that much of traffic, it will remain as stable as in fully working condition. so consider having VPS/Dedicated hosted in Data Center not through any third party vendors. Try if you could get Cloud VPS OR cloud solution as a service part.
CDN:
If you have good budget then consider using Amazon, Avg. budget use Cloudflare OR MaxCDN.
Hardware: 16GB Ram, 8 Core CPU, 60GB (If you are not planning much updates on your website), 20Gbps Network, 25TB Bandwidth. VPS would do your job and can manage the traffic you considering. I don't think so you should go for dedicated.
Setup & Configuration:
Install Debian 8, Virtualmin (Free) + Nginx and optimize it to use for high traffic. Do not install WHM, don't do this mistake, if you do then you might need premium support to fix issues every single day. Virtualmin is light panel and wordpress is it's specialty. Nginx has ability to deliver high traffic website, mysql optimization, cache management and it can deliver what you looking at.
Themes & Plugins:
Try to go with light wordpress theme, install minimal plugins. Must have plugins are Nginx Helper & W3C Total cache.
There's lot of things on this to talk about, but i think these are important once and should be helpful. Hope my explanation helps you to understand! If you have any doubt feel free to ask...
Attached is the proof of what i explained. This server has configuration of 4GB Ram, 4 Core CPU & Cloud VPS
