2d texture animation slow down iphone

Hi we are doing a 2D game for Iphone and we have 12 character with around 10 frame each what are my limitation before i ran out or memory all character will not be on same level 3 character per level. let say if i end up with 500 frame of texture total at 512 by 512 each.

someone tell a good way to make that work or a work around it . we will re-use stuff, but need to known how far can i push it to be very unique ,before it crash the phone Thanks