You certainly need to maintain a minimum velocity to prevent settling as well as a maximum velocity to avoid excessive pressure drop in the piping. Pressure drop is tricky here because of the caustic is both dense (1.5 specific gravity) and viscous. Other responders, however, have already dealt with these issues.
But you also need to be consider the temperature of both the metal and the 50% caustic. The 50% caustic will freeze around 12°C, which makes it critical to maintain both the pipe and fluid above this temperature. In addition you must also prevent overheating of the pipe. Above 49°C, caustic can crack carbon steel pipe by a phenomenon known as stress corrosion cracking. For this reason it is important to keep the pipe wall below 49°C. Stainless steel will not crack in the presence of 50% caustic unless the metal temperature exceeds 100°C.
Because of these concerns, most piping systems are heated with self-limiting electrical elements. This prevents freezing without overheating the pipe. If electrical heating is not possible, then steam heating can be used, but the coils must not contact the pipe directly. The coil offset makes the heating less efficient, but it reduces the likelihood of overheating.
Tracing the piping system will also protect the piping when the plant is not operating or is operating at greatly reduced capacity.