Waiting for Rousey: Ranking the new women's bantamweight top 5

This time last year, Ronda Rousey was in the midst of a historical run of seven straight title defenses and it didn't look like she was going to slow down anytime soon.

Of course, we all know what happened at UFC 193 in November when she suffered a stunning upset loss at the hands of Holly Holm. It was the end of Rousey's reign and the start of this period of instability in the women's bantamweight division that we're currently witnessing.

The latest name to shake things up is Valentina Shevchenko, who out-struck Holm this past Saturday to force herself into the mix at the top of the rankings.

Today we take a look at the current top five in the women's bantamweight division and how this new hierarchy fell into place.

1. Amanda Nunes

Where she was last year: Flying under the radar on the fringes of the top 10.

How she got here: By emerging as one of the division's most feared finishers and mollywhopping Miesha Tate at the biggest UFC event of the year.

Nunes opened up a lot of eyes last August when she choked out former title challenger Sara McMann, but even then the UFC didn't put much promotional effort behind her.

It wasn't until she topped Shevchenko and positioned herself as a mandatory challenger that the promotion and the majority of the fans took notice. After a convoluted series of mishaps resulted in Nunes and Tate being elevated to the main event of UFC 200, there was the sense that anything was possible.

Sure enough, Nunes demolished Tate to become the sport's top female at 135 pounds and the UFC's first openly gay titleholder.

2. Miesha Tate

Where she was last year: Contemplating retirement when it became clear that the UFC was not going to give her a third chance to fight Ronda Rousey.

How she got here: By scoring the most dramatic submission in women's MMA history.

When Holm took out Rousey, it cleared the way for Tate to get that elusive title shot at UFC 196. Though Tate would go on to win, it didn't come easy as Holm was well on her way to retaining the belt via decision or draw after five rounds of tense action.

Tate snagged a rear-naked choke with less than two minutes to go to capture her second world title (she was a former Strikeforce champion), the culmination of an eight-year journey that was almost cut short.

3. Valentina Shevchenko

Where she was before joining the UFC: Wrapping up a sterling kickboxing career, competing on Peruvian game shows, and showing her peers how to make a proper entrance.

How she got here: By taking advantage of one of the most difficult three-fight stretches any UFC newcomer has ever dealt with.

Shevchenko won her first UFC fight against perennial top-10 women's bantamweight Sarah Kaufman, then lost to Nunes. For her third fight, she was granted Holm, a former champion.

The matchmakers' faith was rewarded when Shevchenko soundly outpointed Holm to vault herself into the top three seemingly out of nowhere.

4. Holly Holm

Where she was last year: Sitting in the top 10 after a pair of solid, if unspectacular wins in her first two UFC bouts.

How she got here: By doing the impossible.

An all-time great boxer, Holm was being touted as a future "Rousey killer" when she was still on the regional circuit. That said, the popular opinion was that a title shot was too much, too soon for Holm, especially since her wins in the Octagon lacked any sort of "wow" factor.

In Round 2 of her championship bout with Rousey, she gave everyone the highlight they were looking for when she obliterated "Rowdy" with a head kick KO to become the first person to win world titles in boxing and MMA.

Now she finds herself on a two-fight losing streak, uncharted territory for an athlete of her caliber.

5. Ronda Rousey

Where she was last year: Ruling over the women's bantamweight division with an iron fist, beating up Turtle from "Entourage."

How she got here: She got kicked in the head really hard.

There was a time when it would have been unfathomable for Rousey to not be sitting on her throne, much less hanging onto a spot in the top five by her fingertips.

But after the loss to Holm, Rousey hasn't given any indication of when (or if) she will fight again. During her time away, the division has become one of the most competitive in the UFC and you could even make an argument that the white hot Julianna Pena should be in this spot instead.

Until another woman shows that they can muster up even one title defense, Rousey will remain the division's most popular fighter. However, if she doesn't come back soon, she'll find herself on the outside looking in at the division's elite.

The next five: Julianna Pena, Cat Zingano, Sara McMann, Tonya Evinger (Invicta FC), Raquel Pennington