Matt Stonie upsets eight-time hot dog eating champion Joey Chestnut at the Nathan's Famous Fourth of July International Hot Dog Eating Contest. (Reuters)

Matt “The Megatoad” Stonie didn’t eat the most hot dogs ever at the annual Nathan’s Hot Dog Eating Contest on Saturday, but he ate enough to top eight-time hot dog eating champion Joey “Jaws” Chestnut. While Chestnut still holds the record, having downed 69 dogs and buns in last year’s event, Stonie, 23, finished first in this year’s contest by scarfing down 62 hot dogs and buns in 10 minutes.

Chestnut wasn’t far behind. He managed to eat 60, while the third-place finisher Tim “Eater X” Janus got down 35.

Truly, this could be a historic moment in hot-dog-eating history. It was reminiscent of what happened in 2007 when a young Chestnut upset Takeru Kobayashi, one of the greatest competitive eaters in history. After Chestnut won in 2007, Kobayashi never won the contest again.

Chestnut, 31, isn’t ready to accept total defeat, however. After the lost, he promised to be back.

“I’ve been looking for competition for a long time and I finally have it,” he said (via the Associated Press). “He made me hungry.”

The women’s contest, meanwhile, went much more as expected.

Defending champ Miki Sudo won first place by eating 38 hot dogs and buns in 10 minutes. Sonya “Black Widow” Thomas finished second, with 31 dogs.