Our memcached.conf has the following directive:
-m 7168
And the server has 8GB of RAM. However, despite heavy use, memory usage never goes above 2GB:
# free
total used free shared buffers cached
Mem: 8178532 2067308 6111224 0 109092 434916
-/+ buffers/cache: 1523300 6655232
Swap: 0 0 0
What are we missing?