Memphis is eliminated from first place.

To show that Memphis is eliminated from first place, we start with the current conference standings:
            Team	W	L	GL	PCT	GB
   Oklahoma City	57	16	9	0.781	0.0
     San Antonio	55	18	9	0.753	2.0
       LA Lakers	47	26	9	0.644	10.0
          Denver	46	28	8	0.622	11.5
       Minnesota	45	28	9	0.616	12.0
         Houston	43	29	10	0.597	13.5
         Phoenix	40	33	9	0.548	17.0
     LA Clippers	37	36	9	0.507	20.0
        Portland	37	37	8	0.500	20.5
    Golden State	35	38	9	0.479	22.0
     New Orleans	25	49	8	0.338	32.5
         Memphis	24	48	10	0.333	32.5
          Dallas	23	50	9	0.315	34.0
            Utah	21	52	9	0.288	36.0
      Sacramento	19	55	8	0.257	38.5
           Total	554	543	133

Memphis can finish the season with at most 24 + 10 = 34 wins and will finish the season behind the following teams:
Oklahoma City has already won 57 games.
San Antonio has already won 55 games.
LA Lakers has already won 47 games.
Denver has already won 46 games.
Minnesota has already won 45 games.
Houston has already won 43 games.
Phoenix has already won 40 games.
LA Clippers has already won 37 games.
Portland has already won 37 games.
Golden State has already won 35 games.