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In verse 20 Paul is speaking about the Lords dinner which as you have stated is the love feast which the scriptures bear wittiness to, yet in verse 24 Paul transitions into the speaking of the taking of bread and wine in remembrance of the Lord.

Now then when we get to verse 27 Paul say that when we take the cup and bread in an unworthy way by not examining what we are doing and in that taking the cup and the bread with sin in our hearts then for that reason in verse 30. 1 Cor 11:30 30 For this reason many are weak and sick among you, and many sleep.

It was believe that confessed sin or bing at odds with a brother or here when they came together they were aruging and over eating and drink that sin made a person weak sick and in Ananias and Sapphira's case lying to the Holy Spirit cost them their lives. I do believe that the term asleep here means they have died due to sin sickness and weakness.

Agape or love feasts were done in memory of Christ, as he commanded, but that's a far cry from the Eucharist. I would imagine that the meal started with the words spoken by Christ and that a feast followed those words.

Roman documents of the early 2nd century indicate that the Church by that time, some 50 years after Paul, separated the agape meal from the Eucharistic communion (sacrament), precisely because they turned out to be "ungodly" in some churches.

The Eucharist in the Catholic and Orthodox Churches is a "life-giving" and "immortality-bestowing" mystery, not something offered "in memory of him". Paul certainly doesn't see it as a divine mystery, but as a statement of faithfulness in his return.

He is not talking about a "sacrament," but simply mentions inconsiderate, selfish (i.e. sinful) gluttons and bringing "judgment" on themselves through their gluttony.

I don't see anything allegorical in Paul's verses, but rather literal description of people binging, getting sick and passing out.