It is possible, thanks to Modernist Cuisine.

http://modernistcuisine.com/recipes/melty-queso-dip/

If this has already been posted, apologies, but I've never quite gotten down the search function on this board even after all these years.

If you don't want to have to purchase sodium citrate online, you can make it at home:

1. Dissolve 2 tsp citric acid with 100 ml of water
2. Add (1) to 2.5 tsp baking soda in another container. Add the liquid slowly as this will fizz/bubble as CO2 is released during the chemical reaction.
3. Mix until all the baking soda is dissolved/no more fizzing
4. Proceed with the rest of the recipe (i.e., 165 ml more water (or low carb beer, milk, or cream/water "milk", whatever) + 10 oz finely grated cheese)

Do not use pre-shredded cheese.
If too thin for your tastes, use less additional water/other liquid of choice.