I recently updated a site running WordPress that is using the memcached object cache plugin and got stuck in a loop where any time I would go to the admin it would show me this page.
I’d click continue and it would send me to the homepage and I couldn’t get into the dashboard. It seems as though the version number of the database is being stored in the memcache so in order to flush the cache you can just put this code somewhere in your functions file and then load the site once.
$memcache_obj = memcache_connect('localhost', 11211);
memcache_flush($memcache_obj);
This will clear out the existing cache and your new database version number will be written to the cache.