Show processlist / Max concurrent connections seem to max out at 131
I once wrote about the kind of things to tweak when seeing output from mysqltuner.pl : Understanding mysqltuner Recomendations w/ Unused Catalogs

Here is the kind of output it generates

 &gt;&gt;  MySQLTuner 1.2.0 - Major Hayden &lt;major@mhtx.net&gt;
 &gt;&gt;  Bug reports, feature requests, and downloads at http://mysqltuner.com/
 &gt;&gt;  Run with '--help' for additional options and output filtering

-------- General Statistics --------------------------------------------------
[--] Skipped version check for MySQLTuner script
[OK] Currently running supported MySQL version 5.1.61
[OK] Operating on 64-bit architecture

-------- Storage Engine Statistics -------------------------------------------
[--] Status: +Archive -BDB -Federated +InnoDB -ISAM -NDBCluster 
[--] Data in MyISAM tables: 6M (Tables: 30)
[--] Data in InnoDB tables: 359M (Tables: 1206)
[!!] Total fragmented tables: 21

-------- Security Recommendations  -------------------------------------------
[!!] User '@localhost' has no password set.
[!!] User 'root@127.0.0.1' has no password set.
[!!] User 'root@localhost' has no password set.

-------- Performance Metrics -------------------------------------------------
[--] Up for: 9d 15h 35m 57s (30K q [0.036 qps], 9K conn, TX: 7M, RX: 1M)
[--] Reads / Writes: 50% / 50%
[--] Total buffers: 322.0M global + 5.4M per thread (15 max threads)
[OK] Maximum possible memory usage: 402.6M (6% of installed RAM)
[OK] Slow queries: 0% (0/30K)
[OK] Highest usage of available connections: 13% (2/15)
[OK] Key buffer size / total MyISAM indexes: 2.0M/921.0K
[OK] Key buffer hit rate: 100.0% (19K cached / 8 reads)
[!!] Query cache is disabled
[OK] Sorts requiring temporary tables: 0% (0 temp sorts / 3 sorts)
[OK] Temporary tables created on disk: 0% (0 on disk / 6 total)
[!!] Thread cache is disabled
[OK] Table cache hit rate: 34% (10 open / 29 opened)
[OK] Open file limit used: 0% (19/2K)
[OK] Table locks acquired immediately: 99% (10K immediate / 10K locks)
[!!] InnoDB data size / buffer pool: 359.3M/256.0M

-------- Recommendations -----------------------------------------------------
General recommendations:
    Run OPTIMIZE TABLE to defragment tables for better performance
    Enable the slow query log to troubleshoot bad queries
    Set thread_cache_size to 4 as a starting value
Variables to adjust:
    query_cache_size (&gt;= 8M)
    thread_cache_size (start at 4)
    innodb_buffer_pool_size (&gt;= 359M)


From the output, you should keep watch on


Maximum possible memory usage: 402.6M (6% of installed RAM)
Total buffers: 322.0M global + 5.4M per thread (15 max threads)
Highest usage of available connections


If you see the per thread value, remember that is is made up of


join_buffer_size
sort_buffer_size
read_buffer_size
read_rnd buffer_size


added together and then multiplied by the max_connections. That can have a bearing out how much memory can be consumed. Since you are hitting the 131 connection limit, perhaps you can multiple the per thread value by 131. Once you do, look back at how much RAM is consumed. Remember to reason on the fact that you are in a VM environment. From the OS point of view, you could be swapping or be the victim of process "steal" as seen in %st in top.

Keep in mind that RAM becomes a premium commodity in a VM, and MySQL will adhere to it without question.

I hope this wild brainstorming of mine helps ...