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"To demote or devalue someone or something, as happened to the former planet Pluto when the General Assembly of the International Astronomical Union decided Pluto no longer met its definition of a planet."

Does not inherently note whether the demotion was with or without cause. This is the definition provided by the American Dialect Society, who coined the word.
The US dollar has plutoed in recent years.
plutoed by RadSavage August 19, 2009
Related Words

Poor Plutoer 

A person that has such bizarre sentimental attachment to a space rock, that is closer in relationship to a comet than it is the 8 true planets in our solar system, that they will fight tooth in nail with anyone who states that the reclassification was justified. They do so with fairly irrational arguments and by neglecting the facts involved.
Everytime someone posts a picture of the current solar system, these damn poor plutoers come out in tears and protest over a fucking space rock that has no impact in their lives what-so-ever. It ruins any conversation you try to have on a page.
Poor Plutoer by zerocool6687 January 11, 2013
the act of shitting in anothers asshole
i pluddered my gf and then she punched me in the dick
pludder by thewawa3000 March 13, 2011
Plude is a word used by Ojibway in manitoba in various reservations, it originated in sagkeeng and is now speading throughout manitoba and canada. Plude is the meaning of penis in the soto community.
plude was made for frog
Plude by Viddy Zaza March 9, 2009
To apply a software update before it has been widely adopted, potentially exposing yourself to bugs or other undesirable effects.
OS 10.5 looks sweet, I just hope it doesn't hose my machine. Fuck it, I'm going to pludge.
pludge by noodlepdx December 20, 2008

Plude Party

When you mix lean with your bodily fluids and share them with friends through different orifices.
Boy 1: Oh man could I go for a Plude Party right about now!

Boy 2: Let's go boys!