Moved thread to Webhosting support forum.
Gigarocket's best tool is feedback from other members who have issues, and so far we haven't had any other reports of issues. I checked my own WordPress sites and they are as fast as ever. So the issue has to be with BuddyPress and the plugins you are using to make it work. There could be a conflict with the theme or plugins with one another or the plugins haven't been updated by the developers in a long time. Always a good idea for you to check WordPress plugin reviews BEFORE you use the plugin and then complain about "site running slow".
Suggest you test your own Website by first turning off all plugins, and then adding them back one by one so you can isolate the plugin/s that is/are creating the issue. They would be plugins using above average resources or conflicting with other plugins and dragging on the performance of your Website. WordPress is known for that.
What is the theme you added, where did you get it from? Is it WordPress approved? Is the theme compatible with BuddyPress? Did you check the support for the theme and plugins on the author side of the theme and plugins and whether there is feedback on their performance from other users? There is so little info in your support request. I did a simple Google inquiry and found a few links to people complaining about slowness with BuddyPress. You may want to do something similar as well. Maybe it's not a good plugin to use:
Here is one discussion I found:
Looks like BuddyPress isn't up to date. That makes it a risk for sure. Not a good idea to work with plugins that haven't been updated by the author in a long time or has been reported as not working optimally:
You may want to remember also you have a shared hosting account with limited resources. For normal every day Websites it is very fast, but if you have scripts like buddypress that conflict with other plugins or the theme, you may need a server with added resources to compensate for all of the script's flaws as it may create a drag on the resources. It is logical if there is an issue with plugins that it would start to drag on the resources.
Suggest you look at the above seriously, as if your Website is using too many resources it may happen that your hosting account gets suspended spontaneously. There is an automatic filter that picks up on when an account uses too many resources - like exceeding the resources that have been allocated for the shared hosting account. In which case the filter will trigger a suspension by default. You may want to avoid that from happening.