1. A method for identifying a least recently used cache entry in a cache, the method comprising receiving a cache access request, the cache access request being associated with a main memory address; determining whether the contents of the main memory address are present in the cache; associating, when the contents of the main memory address are not present in the cache, the memory address with a set within the cache, the set including a plurality of ways; updating more significant bits of a pseudo least recently used pointer when the contents of the main memory address are not present in the cache; and updating more significant bits and less significant bits of the pseudo least recently used pointer when the contents of the main memory address are present in the cache.