Chris Algieri (C) of the U.S. falls after taking a punch from Manny Pacquiao (L) of the Philippines during their World Boxing Organisation (WBO) 12-round welterweight title fight at the Venetian Macao hotel in Macau November 23, 2014.
Chris Algieri (C) of the U.S. falls after taking a punch from Manny Pacquiao (L) of the Philippines during their World Boxing Organisation (WBO) 12-round welterweight title fight at the Venetian Macao hotel in Macau November 23, 2014. Reuters/Tyrone Siu

After Manny Pacquiao demolished American contender Chris Algieri in their latest match, Ring Magazine updated its pound-for-pound rankings and moved up the Filipino boxer one spot higher in the listing. The eight-division world champion is now ranked third in the said list just behind Floyd Mayweather Jr and heavyweight champion Wladimir Klitshko.

Pacman remains the longest tenured boxer in the said distinguished list with 572 weeks and counting. This is despite him suffering back-to-back losses to American Timothy Bradley and Mexican Juan Manuel Marquez two years back. The Filipino suffered the most embarrassing defeat of his career against Marquez when he infamously went down to a zooming right counter-punch from the Mexican legend just seconds before the sixth round ended.

The WBO welterweight champion can be propelled back to the top spot of the best boxer in the world if ever he wins over Floyd Mayweather Jr (assuming the American boxer finally relents and fight him), or in case Mayweather does not fight him, the American suffers a defeat in his next fight. Pacquiao has been adamant on facing the reigning pound-for-pound king next, saying that he is willing to take a lesser purse and agree to Olympic style drug testing. After the Filipino sensation delivered a throwback performance against Algieri by knocking the contender six times, Pacquiao relayed that he is more than willing to give boxing fans the fight they deserve.

"I think it's time to say something," Pacquiao said after defeating Chris Algieri in Macau, China Nov. 23. "The fans deserve that fight; it's time to make that fight happen."

Despite going up to third in the list, the Filipino fighter who turns 36 next year is not quite ready to hang the gloves up as he seeks to finish his illustrious career with the super bout with Mayweather. The reality of that bout still remains to be seen as 37-year-old boxer has been mum on the Pacquiao front.

Other notable boxers who moved up or down in the latest pound-for-pound rankings are Andre Ward who slipped to the 4th spot, having no registered fights since defending his title against Edwin Rodriguez in November 2013. The 168-pound fighter is currently embattled in a legal quandary with his ex-promoter Dan Goossen, which largely was the reason for his extended time away from the ring. Aside from Ward, Roman Gonzales of Nicaragua also moved up to the 7th spot from 9th the previous week as well.