Memcached Wastage

Hi,

I was checking my backend as my website is working slow. I am on a RAMnode 512MB VPS and Google analytics show a rise in average page load time.

So I checked the backend and found no issue. When I checked memcached it shows wastage of memory.

Question:

  1. Is it causing website slowdown?
  2. What can I do to minimize or stop wastage of memcached memory?