A new ranking algorithm on YouTube has dethroned PSY and Gangnam Style from their seat atop the Most Viewed Videos section. Find out why it's prompted conspiracy allegations from users around the web. (Photo: YouTube)

Changes are coming to YouTube, and not just in the form of a new ranking algorithm. The unthinkable has happened...PSY and his equine-inspired dance hit "Gangnam Style" have been dethroned from their seat atop YouTube's Most Viewed Videos section.

As Kotaku notes, K-POP site Omona They Didn't was one of the first to notice PSY's disappearance from the Most Viewed Videos section of YouTube. Last week, the ultra popular video hosting website announced that it would make changes to its long-standing ranking system, and place a new emphasis on complete video viewings over the frequency of page loads. While it continues to weigh clickthroughs on referral links, comments, and likes, the new ranking algorithm placed increased emphasis on the amount of time that users spend watching the selected video and/or related videos. Within 24 hours of the new algorithm's introduction, PSY's "Gangnam Style" began to slide down the chart, and has now disappeared from the Most Viewed Videos section entirely.

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The video has spawned countless parodies, including mash-ups with presidential candidate Mitt Romney, The song earned PSY the chance to perform on Saturday Night Live, and he went on the talk show circuit to teach the dance to a who's who of celebrities, including Britney Spears and Ellen Degeneres. It even managed to climb to the top of the U.S. Billboard Charts, where it remained number two as recently as last weekend.

While the new YouTube ranking algorithm seems to have had a devastating effect on the Gangnam Style listing, not every artist on the site has been burned by the new system. Popular musical acts One Direction and Carly Rae Jepsen moved up into the number one and two spots respectively. Others, like Christina Aguilera -- whose song, "Your Body" fell from eighth to twentieth place -- were not so lucky.

A few conspiracy theories have emerged following the video's disappearance from the YouTube Most Viewed Video chart, and some on the web now believe the South Korean pop star's relatively-brief time in the spotlight was entirely manufactured. Many of the doubtful suspect the song's placement was bolstered by the use of automated viewing/voting programs, typically referred to as "bots", and some have even taken to calling the song "F5 Style" -- a reference to the keyboard key generally used to refresh the window of an internet browser. Others say it's merely proof that, when you actually consider total viewing time, it becomes apparent that far fewer people enjoyed the song than PSY or his management team might have you believe.

So, are you shocked by Gangnam Style's disappearance from YouTube's Most Viewed Videos section? Think it's all an elaborate conspiracy for/against PSY? Let us know how you feel in comments section!