WebSocket connection upgrade failed (429 - TooManyRequests)

What does this mean "Single API key can have upto 3 websocket connections"?
Does it mean that we should not have more than 3 KiteTicker objects?
If we exceed, do we get this error:
ERROR:kiteconnect.ticker:Connection error: 1006 - connection was closed uncleanly (WebSocket connection upgrade failed (429 - TooManyRequests))

Because I'm getting this error, and I have created 22 KiteTicker objects to subscribe to 1 token each. Is that incorrect?
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