No, you'll need an iPod that has a screen, so you can scroll through a list and select an artist.
If you only want certain artists, you can create playlists in your iTunes library, name them with the artist's name, and put songs that you want from each artist on those playlists. Then, sync those playlists to the shuffle. You can then use VoiceOver on the shuffle to select the playlist you want to hear. But you wouldn't want to do this with a large number of playlists.
This document shows how to enable and use VoiceOver