To diagnose a load-intensive (either CPU cycles or memory) Plugin, start by deactivating all Plugins. Ensure that, with no Plugins active, you do not observe the same issues.
If you observe the same issues with all Plugins deactivated, then the problem is somewhere else, either with your Theme, your database, or your server configuration.
If you don’t observe the same issues with all Plugins deactivated, then activate one Plugin at a time, individually, to determine if one is causing the problem. It is possible that a single Plugin, on its own, is causing the problem. If so, this step will help identify that Plugin.
More likely, however, is that the problem is a cumulative effect, or caused by an interaction of multiple Plugins. In that case, you will have to active Plugins cumulatively, until you identify the cause of the problem.
Note, I would recommend the Server Buddy Plugin for monitoring resource usage during this testing.
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solved Memory issues – Fatal error: out of memory – plugins?