The size of the image is not really important it is the size in bits that an image takes. Your example file is not a good example because it is not that big but you can use the following calculation for the amount of memory that is necessary to store an image in memory:
width * height * (pixel channels) * (bits per pixel)
252 * 118 * 4 * 16 = 1903104 bits = 0.237888 mb
frames * (bits per frame)
255 * 1903104 = 485291520 bits = 60 mb
You probably have a gif that has a bigger width/height and has a lot of frames that is causing these problems.