Pikachu is tied for 29th on the tier list, alongside Blade, in the bottom tier. He has a decent movement speed, and better finishers than Blade. However that's pretty much where his strengths end.
Pikachu has only four moves at his disposal, half of them possessing flaws that make them near-unusable. His thundershock has extremely poor range, combined with a very long duration that leaves him wide open to attacks if he misses. His Thunder is easily the worst projectile in the game, as it falls towards Pikachu, does piddling damage, and has a long startup time that can be interrupted if Pikachu gets hit. These traits make it unsuitable for camping of any kind, as it leaves Pikachu wide open for a free punish. Because Thunder is also his down air, Pikachu has only one instant-kill attack, his up attack, while his other moves have little to no KO ability whatsoever. Pikachu has no way to deal with disjointed moves nor other projectile attacks.
These attributes give him awful matchups across the board (arguably worse than Blade), which is why he's ranked at the bottom of the tier list.
This article/section is incomplete. Though it isn't necessarily short, it is missing information. You can help the McLeodGaming Wiki by filling in the blanks.