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has it always been slow?
theres all kinds of reasons for things to be slow and you should try to explore all options as to why before trying to blindly fix them, but in any event there's all kinds of ways to optimize, but for caching apc works well.
You can try to install apc php extension and use wordpress apc plugin, but should probably do a combination of other things also. However it is most important to be certain of why the slowness is occuring and then react. I don't know your server situation or anything, but just saying as a general point
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